Strait of Hormuz oil tanker traffic has "largely stalled"

According to Odaily, with the 60-day ceasefire agreement between the US and Iran hanging in the balance, oil tanker traffic through the Strait of Hormuz has "largely stalled." Jorge Leon, Head of Geopolitical Analysis at research firm Rystad, wrote in a report on Wednesday: "As of today, traffic appears to have come to a complete halt." He added that this state of "largely stalled" traffic "reflects the current perception of risk more than any statement coming out of Washington or Tehran." According to data from Kpler, only four oil tankers have passed through the strait so far today.

Navin Das, Senior Oil Analyst at Kpler, stated that since the US and Iran reached a 60-day ceasefire agreement on June 17, the average daily number of oil tankers passing through has been around 32. This figure is nearly three times the average daily traffic between the outbreak of the conflict (February) and the signing of the agreement on June 17, although it remains well below pre-war levels. (CNN)