Hormuz Ship Traffic Falls to Weekly Low as Standoff Drags On
The number of ships that have transited the Strait of Hormuz dropped to a week-low on Tuesday, according to shipping data, as vessel owners continue to avoid the key chokepoint in the Middle East. Only eight vessels moved in either direction at the Strait of Hormuz on Tuesday, the lowest number sinc
Source: OilPrice.com
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DW NOTE
The Strait carried 21 million barrels a day before this. Eight ships in a week means the chokepoint is functionally closed, not merely disrupted. Markets are pricing oil as if this is temporary. Six months to clear mines says it isn't.