On Thursday, traffic through the Strait of Hormuz saw a notable decrease, with only three commodity vessels making the crossing. This marked the lowest daily movement since May, as tensions between the United States and Iran once again escalated, impacting one of the globe’s vital corridors for energy trade. Recent attacks on commercial vessels and mounting military tensions have prompted many ships to either delay their voyages or turn back due to rising security concerns.
This significant reduction in maritime activity has sparked worries over the stability of global energy supplies, given the strait’s importance in the global oil and liquefied natural gas market. The disruption has also been a contributing factor to the recent rise in global oil prices. Several ships that managed to traverse the strait paused their journey in the Gulf of Oman, while a fuel tanker that briefly exited the waterway returned to the Persian Gulf.
Wednesday also experienced sluggish activity, with only 11 vessels passing through, a stark contrast to the average daily traffic of about 125 ships. Notably absent for the second consecutive day were large crude oil tankers and carriers of liquefied natural gas. Despite the reduced activity, two very large crude carriers, each transporting approximately two million barrels of oil, later emerged outside the strait en route to destinations in Asia and Europe.
In a related development, Iraq temporarily halted oil loading operations at its Basra export terminal after a drone strike targeted an oil tanker. Operations resumed shortly afterward. Iran has issued warnings that if military actions persist, oil and gas exports through the Strait of Hormuz could continue to face disruptions, stoking fears of further instability in the global energy market.