On Thursday, the passage of ships through the Strait of Hormuz saw a sharp decline, as tensions escalated between Iran and the United States, disrupting a crucial conduit for global energy trade. The waterway, which typically sees heavy traffic, recorded only three commodity vessels crossing, marking the lowest daily activity since May. This drop comes amid a backdrop of rising security concerns, spurred by recent attacks on commercial vessels and increased military friction in the region.
The significant reduction in maritime movement through the strait has sparked worries about the stability of global energy supplies. The Strait of Hormuz is vital for the export of a substantial portion of the world’s oil and liquefied natural gas. As a result, this disruption has contributed to an uptick in global oil prices. Several ships that did manage to navigate through the strait later stopped in the Gulf of Oman, while a fuel tanker reversed its course back into the Persian Gulf after initially exiting the waterway.
Wednesday had already been a slow day for the strait, with just 11 vessels making the journey—far fewer than the typical daily average of around 125 ships. Notably absent for the second consecutive day were large crude oil tankers and liquefied natural gas carriers. Despite this, two very large crude carriers, each transporting approximately two million barrels of oil, eventually resurfaced outside the strait and proceeded towards their intended destinations in Asia and Europe.
In a related development, Iraq briefly halted oil loading operations at its Basra export terminal following a drone strike targeting an oil tanker. Although operations later resumed, the incident underscores the region’s volatility. Iran has also issued warnings that oil and gas exports through the Strait of Hormuz may continue to face disruptions if military confrontations persist, heightening fears of further disturbances in the global energy markets.