Hormuz Traffic Hits 20% Pre-War Levels Despite US Navy Gains
The Strait of Hormuz, a critical waterway for global oil trade, has seen an increase in ship traffic this week, but it's still only at 20% of pre-war levels.
According to a CNN analysis of figures from the UK Maritime Trade Operations center (UKMTO), 103 vessels entered the strait and 89 left between August 10-17. This represents a 27% increase in ship traffic over the past week.
The majority of ships passing through the strait were flagged from Panama (7) or Liberia (6), with none from the United States. Product tankers, which transport refined petroleum products, made up the most common type of vessel.
Despite this increase in ship traffic, over 80% of liquids transiting the strait have been taking the Omani route, a UN-authorized shipping channel opposed by Iran.
In a recent update, US Energy Secretary Chris Wright said that more than 15 million barrels of oil and products were shipped out of the strait via the Omani route this week, with another five million transported via pipelines.