Ship traffic through the Strait of Hormuz has fallen to nearly a three-month low
Shipping traffic through the Strait of Hormuz has dropped to nearly its lowest level in three months amid uncertainty over an agreement between the U.S. and Iran to fully reopen the key oil export route from the Middle East. According to data from Kpler analyzed by CNBC, the five-day average number of ships passing through the strait on Tuesday was about 13.
This is nearly the lowest level since May 12 and approximately 90% below the daily average of 130 vessels passing through the strait prior to the U.S. and Israeli strikes on Iran on February 28. Kpler’s data covers all types of vessels, including cargo ships and oil tankers.
Meanwhile, U.S. Energy Secretary Chris Wright stated that the seven-day average volume of oil exports through the Strait of Hormuz reached nearly 9 million barrels per day. According to him, tankers are passing through the waterway with U.S. military assistance. Wright also reported that, taking into account pipeline shipments, Persian Gulf countries are exporting an average of about 15 million barrels per day.
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The U.S. official stated that private companies may be underestimating the number of vessels passing through the Strait of Hormuz, as some of them are operating covertly. Before the war, about 20 million barrels of crude oil and petroleum products were exported through the strait per day.
Iranian Senior National Security Official Mohsen Rezaei stated that Tehran will not agree to fully open the strait until Washington meets its demands. The U.S. and Iran reached an interim agreement to reopen the strait on June 17, after which the five-day average number of transits rose to approximately 60 on June 26. However, the agreement subsequently fell apart due to a dispute over shipping routes, which had not been specified in the agreement.
According to CNBC, Iran attacked tankers using a U.S.-protected route along the coast of Oman. In response, the Donald Trump administration launched more than a dozen waves of strikes against Iran and reinstated the naval blockade. This month, the U.S. president resumed diplomatic talks, but it is unclear how far they have progressed, and an agreement on fully reopening the strait has not yet been reached.
