Shipping traffic through Strait of Hormuz drops by half

LONDON, August 21. /TASS/. The number of vessels crossing the Strait of Hormuz on Thursday fell by half compared with the previous day. Only seven vessels carrying commodities passed through the waterway amid growing concerns over risks to shipping in the Middle East, Reuters reported, citing analytics firm Kpler.

According to the analysts, four vessels entered the strait and three exited it. None were large oil or liquefied natural gas tankers, although a very large gas carrier transporting propane and butane passed through the strait along the Iranian route.

The current situation surrounding the Strait of Hormuz has further dampened optimism that an agreement can be reached on fully reopening the waterway. The price of Brent crude oil futures with October delivery on London’s ICE exchange rose above $94 per barrel for the first time since July 24 of this year, according to trading data.

The United States and Israel launched a military operation against Iran on February 28. In June, Washington and Tehran signed a memorandum of understanding providing for an immediate cessation of hostilities on all fronts, including in Lebanon. However, on the night of July 8, the United States resumed large-scale strikes on Iran, accusing Tehran of violating the agreements concerning the Strait of Hormuz. The Wall Street Journal previously reported, citing satellite data, that an average of 26 vessels passed through the strait each day in July, five times fewer than before the conflict began.