Shipping slows after Iran says it has again shut the Strait of Hormuz
Iran has announced the closure of the Strait of Hormuz, citing violations of an interim peace deal by the U.S. and Israel. Shipping traffic dropped sharply on Sunday, affecting the transport of global oil and crude products. Brent crude oil hovered around $100 a barrel on Thursday following statements that the waterway will remain shut.
What changed
Iran has reinstated the closure of the Strait of Hormuz, causing a significant drop in vessel traffic.
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Shipping activity plummets as Iran closes Strait of Hormuz
confidence 90%Iran has announced the closure of the Strait of Hormuz, citing violations of an interim peace deal by the U.S. and Israel. Shipping traffic dropped sharply on Sunday, affecting the transport of global oil and crude products. Brent crude oil hovered around $100 a barrel on Thursday following statements that the waterway will remain shut.
What's confirmed:
- Iran announced the closure of the Strait of Hormuz citing U.S. and Israeli violations of an interim peace deal.
- Five vessels passed through the strait on Sunday, compared to 26 ships the previous day.
- The decline in shipping activity has impacted crude and oil product vessels.
Still unconfirmed:
- Further attacks on ships in the Gulf have spooked energy traders.