Hormuz Traffic Falls to 33 Vessels as U.S.-Iran Talks Falter and Houthi Threats Escalate
Updated
Updated · OilPrice.com · Aug 7
Hormuz Traffic Falls to 33 Vessels as U.S.-Iran Talks Falter and Houthi Threats Escalate
3 articles · Updated · OilPrice.com · Aug 7
Summary
33 vessels transited the Strait of Hormuz from Monday to Thursday, down from 50 in the same period last week, with only four moving through on Thursday.
The drop reflects fading hopes for a U.S.-Iran understanding and a possible Iran-Oman arrangement on managing the chokepoint, after markets had expected a draft proposal.
Six crude tankers have cleared Hormuz outbound so far this week, while security and tracking firms say Gulf and Red Sea shipping risks have reached their worst level since the Iran war began.
Iran is weighing rules to bar U.S. and Israeli ships and charge compensation to other countries it says harmed Tehran, adding to disruption already pushing traffic into temporary corridors.
Brent crude topped $83 in Asian trading after Houthis struck Saudi Arabia's Najran province, killing 11 civilians and reinforcing fears that regional hostilities will further squeeze shipping.