Oil Tanker Traffic Disappears From Strait of Hormuz

Following US-Iran Conflict Oil tanker traffic has come to a near standstill in the Strait of Hormuz following this week's attacks on Iranian and US assets in the region.

Following US-Iran Conflict Oil tanker traffic has come to a near standstill in the Strait of Hormuz following this week's attacks on Iranian and US assets in the region. Ship crossings through the US-controlled south channel have decreased from an average of 34-40 ships per day to 13-14. The Strait of Hormuz is responsible for transporting around 20% of the world's oil, and prices have increased between 4-5% this week on concerns the tenuous peace has ended.