economy
Strait of Hormuz Ship Traffic Near Three-Month Low as U.S.-Iran Deal in Doubt
Traffic is about 90% lower than the daily average of 130 ships that transited Hormuz before the U.S. and Israel attacked Iran on Feb. 28.
TL;DR
- Ship traffic in the Strait of Hormuz is at a near three-month low.
- Doubt surrounds the potential for a U.S.-Iran agreement to fully reopen the oil export corridor.
- Vessel transits are averaging around 13 ships per day, significantly lower than pre-conflict levels.
- Oil exports through Hormuz are averaging nearly 9 million barrels per day, supported by U.S. military assistance.
- Total oil exports from Gulf states, including pipelines, average about 15 million bpd.
- Iran's national security official stated Hormuz will not fully open until Tehran's demands are met.
- A previous interim deal collapsed due to disagreements over shipping routes.
- Iran attacked tankers using a U.S.-protected route, leading to U.S. retaliatory strikes and naval blockades.
- President Trump has recently returned to diplomatic efforts, but progress remains unclear.