Shipping traffic through the Strait of Hormuz experienced a dramatic reduction on Thursday due to escalating tensions between the United States and Iran. This critical maritime passage, a key artery for the global energy trade, saw only three commodity vessels traverse its waters, marking the lowest daily count since May. The decline comes amid security concerns sparked by recent attacks on commercial vessels and increased military tensions in the area, prompting many ships to delay their voyages or turn back entirely.
The diminished flow through the strait has raised alarms over potential impacts on global energy supplies, as it is a vital route for a significant portion of the world’s oil and liquefied natural gas exports. This disruption has also contributed to a rise in global oil prices. Some vessels that successfully navigated the strait later paused in the Gulf of Oman, while a fuel tanker reversed its course back into the Persian Gulf after a brief exit.
This downturn in shipping activity follows a similarly subdued day on Wednesday, when only 11 vessels crossed the strait, well below the usual daily average of approximately 125 ships. Notably absent on both days were large crude oil tankers and liquefied natural gas carriers, underscoring the severity of the disruption. Despite the reduced traffic, two very large crude carriers, each bearing around two million barrels of oil, eventually reemerged outside the strait, continuing their journeys toward destinations in Asia and Europe.
Adding to the turmoil, Iraq temporarily halted oil loading operations at its Basra export terminal following a drone strike targeting an oil tanker, before resuming activities later. Iran has cautioned that if military actions persist, disruptions to oil and gas exports through the Strait of Hormuz could continue, exacerbating fears of further instability in global energy markets.