Strait of Hormuz oil tanker traffic has "basically ground to a halt"

Odaily News, 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." Jorge León, head of geopolitical analysis at research firm Rystad, wrote in a note on Wednesday, "So far today, traffic appears to have completely stopped." He added that this state of "virtual standstill" "reflects the current risk expectations more than any statement from Washington or Tehran." According to data from Kpler, only four oil tankers have passed through the strait so far today.

Naveen 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 tankers passing through has been about 32. This figure is nearly three times the average daily traffic during the period from the outbreak of the conflict (February) to the June 17 agreement, although it remains far below pre-war levels. (CNN)