Holmuz Strait oil tanker traffic has "basically ground to a halt"

According to Odaily, as the 60-day ceasefire agreement between the United States and Iran hangs in the balance, oil tanker traffic through the Strait of Hormuz has "basically ground to a halt." "As of today, traffic appears to have completely ceased," wrote Jorge Leon, head of geopolitical analysis at research firm Rystad, in a note on Wednesday. He added that this "near-total halt" "reflects current risk expectations more than any statement from Washington or Tehran." According to data from Kpler, only four tankers have passed through the strait so far today.

Navin Das, senior oil analyst at Kpler, said that since the U.S. and Iran reached a 60-day ceasefire agreement on June 17, the average daily number of tankers passing through the strait has been around 32. This figure is nearly three times the average daily traffic recorded between the outbreak of the conflict (in February) and the June 17 agreement, though it remains well below pre-war levels. (CNN)