Hormuz Traffic Running 80% Below Its 10-Day Average

AI Summary

Traffic through the Strait of Hormuz dropped to only three commodity vessels, including one Panamax oil tanker, marking 80% below its 10-day average amidst ongoing Middle East disruptions and the potential resumption of U.S.-Iran talks. Preliminary tanker-tracking data by Kpler shows a decline in vessel movement, signaling geopolitical tensions affecting energy shipping routes.

Only three commodity vessels moved through the Strait of Hormuz in the past day, preliminary tanker-tracking data by Kpler showed on Wednesday, as the oil market weighs the potential resumption of U.S.-Iran talks against continued disruptions in the Middle East. The three commodity vessels, which included one Panamax oil tanker, transited the Strait of Hormuz outbound, according to Kpler’s data cited by Reuters. The observable traffic on Tuesday was below Monday’s four vessels that transited Hormuz, and well below the 10-day moving…