Qatar Reopens Waters as Conflict Continues to Disrupt Global Trade Flows
Qatar has lifted its maritime restrictions for all vessel types, effective July 26. This marks the culmination of a phased reopening that had repeatedly stalled over four weeks of conflict.
The reopening comes as oil markets have seen a slight dip due to trader optimism about a pause in US strikes on Iran. Brent crude fell by 4.1% to $92.82, while WTI dropped by 4.5% to $85.29.
Despite the diplomatic progress, physical flows remain restricted. Kpler's transit data shows that only seven commodity vessels transited through the Strait of Hormuz on July 26, down from the usual 130-plus daily crossings before the war began. In contrast, 21 liquefied natural gas carriers remained marooned inside the Persian Gulf, unable to reach their contracted buyers in East Asia and Europe.
The Bab el-Mandeb waterway also saw a significant drop in commodity vessel transits, with only eleven vessels passing through on July 26. This is attributed to the Houthi escalation that has severed the supply route designed to compensate for Hormuz's closure.