A few tankers and ships are going through the Strait of Hormuz. Here's the latest traffic
Key Points:
- At least nine oil tankers have transited the Strait of Hormuz this week amid ongoing U.S.-Iran tensions over control of the strategic sea lane.
- The RHN, a very large crude carrier (VLCC) capable of carrying about 2 million barrels of oil, entered the strait from the Gulf of Oman on Wednesday, while the Alicia crossed into the Persian Gulf on Tuesday.
- Tanker traffic remains drastically reduced, with transits on Tuesday 90% below levels before the U.S. and Israel attacked Iran on February 28, and traffic has not recovered despite a ceasefire agreement on April 7.
- The U.S. Navy has imposed a blockade on maritime traffic to and from Iranian ports after failed war negotiations, while Iran continues to assert control over the strait.
- The Strait of Hormuz is a crucial trade route for Middle Eastern oil, historically handling about 20% of global crude supplies, and its disruption has caused the largest oil supply shock in history, with the International Energy Agency emphasizing the importance of resuming flows to stabilize energy markets.