Hormuz Strait Shipping Grinds to a Halt After Tanker Attacks

Shipping through the Strait of Hormuz slowed significantly over the weekend following attacks on tankers. According to shiptracking data from Kpler, five vessels transited the strait on Saturday, compared to 31 in the prior weekend.

The Strait of Hormuz is a crucial waterway that handles a fifth of the world's shipments of crude oil and liquefied natural gas. The recent attacks have had a noticeable impact on shipping volumes, with no vessels registered for Sunday transit.

Washington must meet Iran's conditions regarding the strait in order for shipping to resume, according to Iranian Foreign Minister Abbas Araqchi. The US has said it could maintain a naval blockade of Iran indefinitely.