Shipping through the Strait of Hormuz has sharply decreased to less than 10% of its usual level, despite the announced ceasefire between the US and Iran. Tehran has declared control over the waterway and urged vessels to remain in its territorial waters, Reuters reports, writes UNN.
Details
According to vessel tracking services, only seven vessels have passed through the strait in the last 24 hours, whereas typically this figure is around 140. Among them are one oil product tanker and six bulk carriers.
Consequences for the oil market
Since the start of hostilities in late February, hundreds of vessels remain blocked in the Persian Gulf. This has already led to a reduction in global oil supplies by approximately 20% and a sharp increase in prices, which have reached record highs for certain brands.
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The UAE state oil company ADNOC stated that Iran must open the strait without any conditions.
Despite the formal ceasefire, the situation in the region remains tense. According to monitoring platforms, even individual vessels are moving cautiously, and some routes have effectively ceased.
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