Tanker Market: Hormuz Strikes Cause “Deja-Vu”

AI Summary

Tanker markets have reverted to patterns typical of wartime following strikes in the Middle East near the Strait of Hormuz. The temporary hope for a settlement between Washington and Tehran has faded, increasing uncertainty and volatility in the tanker industry.

The tanker markets have returned to their “wartime pattern” of behavior, after the latest round of strikes in the Middle East. In its latest weekly report, shipbroker Intermodal said that “the MoU between Washington and Tehran in mid-June, which set out a 60-day framework for reaching a final settlement, briefly raised hopes that the Hormuz ...