Oil Traffic Rebounds in Strait of Hormuz

Oil shipments through the Strait of Hormuz rose this week to their highest level since the outbreak of the US-Israeli conflict with Iran in February. The increase was made possible by a new 60-day ceasefire agreement.

US Energy Secretary Chris Wright said that about 20 million barrels of oil passed through the strait in the past 24 hours, representing one-fifth of global consumption. According to an analysis by Kpler, four tankers carrying six million barrels of oil transited the route on Thursday alone, while two others carried four million barrels of Iranian crude.

Despite the increase, total traffic remains only a fraction of the pre-war average of 125 ships per day.

The situation is complicated by the fact that the central part of the strait remains blocked due to the risk of sea mines. Tankers therefore sail primarily along the Omani side of the waterway, and many switch off their AIS tracking transponders for safety, making it difficult to accurately estimate volumes.

Regional tensions are further fueled by the Iranian Revolutionary Guard, which warned on Thursday that safe passage is possible only along routes designated by Tehran and that any uncoordinated navigation poses a security risk. According to the British security firm Ambrey, Iranian forces have already forced two Panama-flagged tankers to change course.

In parallel with trade operations, the UN evacuation program is also underway. Since June 23, the voluntary scheme has evacuated 57 stranded ships and 1,100 seafarers from the Persian Gulf.

(Reuters, Max)