Decline in Strait of Hormuz Traffic
Maritime traffic through the Strait of Hormuz declined to 33 ships over the past week, down from 50 ships the week before, amid anticipation of talks between Iran and Oman regarding the reopening of this vital waterway. Data shows that only six oil tankers left the strait since the beginning of the week, while 21 ships entered, most of them heading along the route designated by Iran. However, shipping companies remain cautious about entering due to sanctions and insurance challenges. Additionally, efforts by some companies to load oil from Iraq through discounts of up to $30 per barrel have continued, but no ships have yet made an actual move.
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