Hormuz Strait Traffic Plummets Amid Ongoing US-Iran Tensions

A total of 17 commodity vessels transited the Strait of Hormuz over the weekend, down from 37 just a week earlier. The Strait is a critical waterway for global oil and liquefied natural gas trade, responsible for transporting around a fifth of the world's supply.

The Strait has seen a significant decrease in traffic as tensions persist between the US and Iran. Despite this, Middle Eastern producers continue to export oil using tankers that keep their transponders turned off.

According to shipping data from analytics firm Kpler, five vessels exited the strait on Sunday, while two small-sized oil tankers entered the Gulf. The vessels included a very large crude carrier, two refined oil product tankers, and two empty carriers for bulk goods and gas.