Hormuz Tanker Traffic Grinds to a Halt After U.S.-Iran Escalation

AI Summary

Tanker traffic through the Strait of Hormuz has almost stopped following renewed missile strikes between the US and Iran, with only a sanctioned crude carrier and an Iranian container ship moving. The escalation and Trump's harsh rhetoric have heightened risks to global oil supply routes.

What was a flood of oil and gas leaving the Strait of Hormuz two weeks ago has now ground to a halt as the United States and Iran began firing missiles again and President Trump declared the ceasefire over, calling the Iranian leadership “scum”, “liars”, and “cheats”. Bloomberg reports that, earlier today, there was only one tanker moving along the waterway, and it was a sanctioned very large crude carrier that passed along the Iran-controlled route along with an Iranian container ship. Meanwhile, on the route…