Hormuz Traffic Dwindles Amid Ongoing Regional Tensions

The Strait of Hormuz, a critical waterway for global oil and gas shipments, has seen its traffic dwindle to a trickle due to ongoing tensions in the region. According to shipping data from Monday, just 17 commodity vessels transited the strait over the weekend, down significantly from 37 a week earlier.

The Strait of Hormuz is a vital conduit for oil and liquefied natural gas exports, accounting for around one-fifth of global shipments. However, despite the decrease in traffic, Middle Eastern producers continue to export oil via tankers with their transponders disabled.

Among the vessels tracked by analytics firm Kpler, five exited the strait on Sunday, while two small-sized oil tankers entered the Gulf. The exiting vessels included a very large crude carrier and two tankers carrying refined oil products.