Hormuz Shipping Slumps Amid Ongoing US-Iran Tensions

The number of tankers crossing the Strait of Hormuz remains below its ten-day average due to ongoing tensions between the US and Iran. According to Kpler, only four tanker crossings were recorded on Tuesday, which is below a ten-day average of 13 tankers.

Windward reported that four tankers entered the strait, two in 'dark mode,' while three exited, one in 'dark mode.' This comes after US Energy Secretary Chris Wright stated that 17 million barrels of crude had passed through the Strait of Hormuz on Monday alone.

ING commodity analysts noted that despite these numbers, oil flows from the Persian Gulf appear to be above pre-war levels when considering bypass volumes. However, they cautioned that ship trackers have been estimating much more modest flows.