Hormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil Markets
The number of tankers traversing the Strait of Hormuz remains below the ten-day average, according to ship-trackers, with Kpler reporting only four tanker crossings for Tuesday. That is below a ten-day average of 13 tankers, Reuters reported earlier today. Windward, meanwhile, reported four tankers
Source: OilPrice.com
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DW NOTE
Murban crude at $106 — a Gulf-exclusive benchmark — is up 7.8% because the Strait of Hormuz has been closed for six months and nobody knows when it reopens. WTI and Brent haven't moved in proportion because the world already priced in the loss of 21% of seaborne oil trade back in March.