Strait of Hormuz Tanker Traffic Slows After Fresh U.S.-Iran Strikes
Oil Prices Climb as U.S.-Iran Flare-Up Shakes Market Complacency Ukraine's sustained drone campaign against… What I Cover Tsvetana Paraskova is an energy and commodities journalist who has contributed to Oilprice.com for nearly a decade, covering global energy markets, commodities,… Tanker traffic through the Strait of Hormuz has eased since late last week as vessel owners and operators remain cautious amid the renewed hostilities between Iran and the United States this weekend.
On Friday and Saturday, the US Central Command (CENTCOM) forcesconductedstrikes against multiple targets in Iran, in response to attacks on two vessels near the Strait of Hormuz.
The Thursday attack on the container ship Ever Lovely prompted some shipownersto pull back and waitfor additional information about how safe transiting the Strait is.
military on Friday carried out strikes on Iran in response to the attack on the vessel.
On Saturday, an Iranian attack on a Panama-flagged oil tanker, Kiku, while it was transiting the Strait of Hormuz prompted additional strikes by the U.S.
Kiku was carrying more than 2 million barrels of crude oil, the U.S.
strikes in response to the Iranian attack on M/V Ever Lovely, Iran was given a chance to honor the ceasefire agreement but elected not to when its forces launched a one-way attack drone that hit M/T Kiku this morning at 4:30 a.m.
The attacks on commercial vessels and the U.S.
retaliatory attacks on Iran continue to test not only the fragile ceasefire, but also the willingness of shipowners and operators to press on with transits through Hormuz.
Since a weekly peak of vessels transiting Hormuz on June 24, traffic has materially eased, both in the outbound and inbound directions, according to ship-tracking data by Kpler compiled byBloomberg.
and Iran have reportedly agreed to cease attacks ahead of tentatively planned new talks this week.
Although traffic through the Strait of Hormuz has resumed and more vessels are openly broadcasting their position, a return to normality is far from certain and far from near amid persistently volatile operating conditions in the Middle East and its key shipping lane.
| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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