Strait of Hormuz crossings drop 70% as tanker traffic shifts almost entirely to the Iranian route

AI Summary

Strait of Hormuz tanker traffic has dropped by 70%, with vessels shifting almost entirely to the unrecognized Iranian route amid ongoing conflict. The Middle East oil supply is not expected to return to pre-war levels this year.

Middle East oil supply won’t return to pre-war levels this year. Kpler risk and compliance data shows daily Strait of Hormuz crossings falling from roughly 45 to just 13 following the return to conflict, and the vessels still crossing have moved almost entirely onto the unrecognised Iranian route rather than the Omani alternative. Between 7 ...