The number of tankers moving through the Strait of Hormuz dropped on Monday to its lowest level in two months, according to shipping data, as renewed military strikes between the U.S. and Iran and attacks on vessels raised safety concerns.
Oil and gas tanker traffic fell to its lowest level since May 25, based on analysis from Kpler.
Ship broker Gibson warned in a report that a prolonged closure of Hormuz would create difficult conditions for global markets. Gibson noted that global inventories have been rapidly depleted in recent months, which could result in tighter supply, higher prices and downside risk for tanker markets.
The Sea Faith oil products tanker was among the few visible vessels sailing toward the entrance to the Strait of Hormuz near the Iranian side of the waterway, with a destination of Sohar, according to LSEG and MarineTraffic ship-tracking data on Monday.
The U.S. Navy-led Joint Maritime Information Center said in an advisory on Sunday that commercial traffic through the Strait of Hormuz continued at reduced levels.
Source: Investing.com
