On Thursday, shipping through the Strait of Hormuz saw a dramatic decrease as rising tensions between the United States and Iran disrupted one of the globe’s vital energy trade passages. Only three commodity ships traversed the strategic channel, marking the lowest daily passage count since May. This reduction comes as ships either postponed their travel plans or reversed course due to increasing security concerns following recent assaults on commercial vessels and mounting military tensions in the area.
The significant drop in shipping activity has sparked worries about global energy supply, given that the Strait of Hormuz is a crucial conduit for a large portion of the world’s oil and liquefied natural gas exports. This disruption has also led to a surge in global oil prices. Some vessels that successfully navigated the strait paused in the Gulf of Oman, while a fuel tanker turned back to the Persian Gulf after briefly exiting the waterway.
The slowdown in traffic was preceded by a quieter day on Wednesday, which saw only 11 vessels crossing the strait—far below the usual daily average of about 125 ships. Notably absent for the second day running were large crude oil tankers and liquefied natural gas carriers. Despite the decrease in activity, two very large crude carriers, each transporting approximately two million barrels of oil, later emerged outside the strait, continuing on to their destinations in Asia and Europe.
In a related development, Iraq temporarily halted oil loading operations at its Basra export terminal following a drone strike on an oil tanker before resuming activities. Additionally, Iran has issued warnings that oil and gas exports through the Strait of Hormuz might remain disrupted if military actions persist, heightening fears of further instability in the global energy markets.