The movement of ships through the Strait of Hormuz saw a dramatic decline on Thursday due to escalating tensions between the United States and Iran, affecting one of the globe’s vital energy trade routes. Only three vessels carrying commodities navigated through the strategic passage, marking the lowest daily activity since May. This reduction comes as ships either postponed their voyages or reversed course amid rising security threats following recent assaults on commercial ships and increased military friction in the area.
The significant drop in traffic has sparked worries regarding the stability of global energy supplies, as the Strait of Hormuz is crucial for a large portion of the world’s oil and liquefied natural gas shipments. This disruption is also driving up global oil prices. A few vessels that successfully traversed the strait stopped in the Gulf of Oman, while a fuel tanker, after briefly exiting the strait, turned back to the Persian Gulf.
This slowdown follows a similarly subdued day on Wednesday, with only 11 ships passing through the strait, a stark contrast to the usual daily average of approximately 125 ships. Notably absent were large crude oil tankers and liquefied natural gas carriers for the second day in a row. Despite the reduced flow, two very large crude carriers, each transporting about two million barrels of oil, were later seen outside the strait continuing their journey towards destinations in Asia and Europe.
In related developments, Iraq temporarily halted oil loading operations at its Basra export terminal after a drone strike targeted an oil tanker, though operations resumed shortly thereafter. Meanwhile, Iran has issued a warning that oil and gas exports through the Strait of Hormuz could face ongoing disruptions if military actions persist, intensifying concerns over potential further instability in the global energy markets.