Hormuz Ship Traffic Falls to Weekly Low as Standoff Drags On
IEA: Global Oil Deficit To Hit 1.8 Million Bpd This Quarter 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,… The number of ships that have transited the Strait of Hormuz dropped to a week-low on Tuesday, according to shipping data, as vessel owners continue to avoid the key chokepoint in the Middle East.
Only eight vessels moved in either direction at the Strait of Hormuz on Tuesday, the lowest number since August 5, and below the latest 10-day average of 12, per Kpler data cited byReuterson Wednesday.
Traffic at the waterway, where some 20 million barrels of oil were flowing before the war, has continuously declined this week amid heightened security risks and uncertainties about any U.S.-Iran negotiations on a possible reopening of the Strait.
and Iran have also offered contrasting claims about the navigability of the Strait of Hormuz, further clouding the view of ship owners and operators of how safe a transit could be.
Iran said on Tuesday that the Strait of Hormuzwill remain closedunless the United States ends the war and meets Tehran’s conditions, raising the bar for a deal that would restore more oil traffic through the key waterway.
President Donald Trumpsaidthat the United States had “total control over the Hormuz Strait,” in a claim that contrasts with Iran’s assertion that Tehran decides when and at what conditions the Strait would be closed or open.
“We own it,” President Trump told reporters at Joint Base Andrews outside Washington.
also claimed on Tuesday that the oil flows from the Middle East have hit, in total, pre-war levels, thanks to U.S.
support for Hormuz traffic and some of the Gulf countries re-routing oil exports to the Red Sea and the Suez Canal.
Oil flows from the Middle East have normalized, with Sunday traffic alone above pre-conflict averages, U.S.
Secretary of Energy Chris Wrightsaidon Tuesday in a claim that appears to not be backed by ship-tracking data.
Claim That Middle East Oil Flows Have Normalized UK Warns of Tighter Power Margins During Eclipse 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,… Exxon and Chevron’s $26.5 Billion Quarter Draws Trump’s Ire Hormuz Draft Agreement Reportedly Awaits Khamenei Approval Iran Says Hormuz Stays Closed Until U.S.
| 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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