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Commodities

Hormuz Traffic Slumps as US-Iran Tensions Escalate

Guavy AI Editorial Team
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Oil
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A recent surge in tensions between the US and Iran has led to a significant drop in traffic through the Strait of Hormuz, a critical waterway for global oil supplies.

According to shipping data from analytics firm Kpler, an average of just 10 commodity ships transited the strait per day over the past 10 days, down from nearly 15 on Friday and more than 13 on Saturday. This marks the lowest number since May.

The decline in traffic comes after US forces struck three Iranian oil tankers on Saturday, including one off Kharg Island, Iran's key oil export hub. The strikes were in response to attacks by Iran's Islamic Revolutionary Guard Corps on US warships in the region.

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