Commodity Vessel Traffic Through Strait of Hormuz Hits Record Low
Tension in the Gulf persists as only a dozen commodity vessels transited the Strait of Hormuz over the weekend, down from 35 the prior weekend. This decline has reduced visible traffic through the strait to a trickle, which is normally responsible for carrying a fifth of the world's oil and liquefied natural gas.
Despite this reduction, Middle Eastern producers continue to export oil on tankers that travel with their transponders off. Four vessels exited the strait on Sunday, including two tankers carrying refined oil products and two empty carriers for bulk goods and gas. Another two small-sized oil tankers entered the Gulf.
On Saturday, five vessels left the Gulf carrying agricultural products, liquefied petroleum gas, and fertiliser, while an empty very large gas carrier entered. The strait typically handled about 125 large commercial vessels per day before the US-Israeli war with Iran started on February 28.