Traffic Through Strait of Hormuz Decreased

Traffic through the Strait of Hormuz has fallen to its lowest level in recent weeks amid rising attacks, as the exchange of fire between the U.S. military and the Revolutionary Guard in the Strait of Hormuz continues. Shipping data indicate a renewed drop in vessel traffic through this vital waterway in recent days. This decline in the number of tankers transiting the strait has, in turn, pushed up oil prices in global markets. Reuters reported, citing data released by Kpler, that maritime traffic in the Strait of Hormuz fell to its lowest level in five weeks on Sunday, July 12, with only six ships passing through the strait. Based on Kpler data, which monitors global shipping, only two tankers exited the Strait of Hormuz on Sunday, one of them carrying 2 million barrels of Iranian oil. The other tanker was carrying half a million barrels of Kuwaiti crude. Kpler says three empty tankers also entered the Persian Gulf on Sunday via the Strait of Hormuz to load oil. Based on the same data, one tanker under the control of Abu Dhabi National Oil Company also exited the Strait of Hormuz between July 10 and 12. According to Reuters, most tankers had turned off their transponders while transiting the strait. The report says no LNG tanker visible in ship-tracking data crossed the Strait of Hormuz over the weekend. This information in