One Commodity Vessel Leaves Strait of Hormuz Amid Ongoing Tensions

The Strait of Hormuz, a critical waterway for global oil shipments, saw only one commodity vessel transit out on Wednesday, according to Reuters data. This is significantly below the 10-day moving average of 17 vessels.

The low number of transits is attributed to the ongoing tensions between the United States and Iran, which have intensified in recent weeks. The Strait has become a high-risk area for ships due to the threat of attacks from Iranian-aligned groups.

Despite an uptick in daily transits compared to earlier this week, the number remains low. Owners and energy exporters are becoming increasingly cautious when navigating through the Strait amid the heightened tensions.

Iran's President Masoud Pezeshkian has vowed that Tehran will not bow to US pressure, indicating a continued impasse between the two nations. The Brent oil price rose on Thursday, holding above $103 per barrel in Asian trading.