Tanker traffic through Strait of Hormuz down by 90%
Tanker traffic through the Strait of Hormuz has plummeted by 90% due to ongoing US-Israeli attacks in Iran, according to intelligence from Kpler.
According to a report from Naftemporiki, the flow of oil tankers transiting the Strait of Hormuz has decreased dramatically by 90% following the commencement of US-Israeli military operations targeting Iran. This significant reduction highlights the tensions in the region and raises concerns about global oil supply disruptions, as the Strait of Hormuz is crucial for transporting a substantial portion of the worldβs crude oil supplies.
The information comes from Kpler, a reputable energy market intelligence service, which has been closely monitoring vessel activity in the region. While Iranian military officials claim to have completely blocked tanker traffic in the waterway, Kpler's data suggests that some vessels are still risking passage despite the heightened dangers. This situation reflects the complexities and risks faced by shipping companies in a geopolitically sensitive area vital to the world economy.
The impact of this drastic reduction in tanker traffic could resonate across global oil markets, potentially pushing prices higher and prompting countries to seek alternative routes or supplies. The Strait of Hormuz accounts for approximately one-fifth of the global oil supply, making the current crisis significant not only for the region but also for international markets reliant on stable oil flows.