The comment points to increasing vessel flows through one of the world’s most important oil chokepoints, a route closely watched for signals on energy supply and geopolitical risk.
Shipping traffic through the Strait of Hormuz is increasing very significantly, U.S. Energy Secretary Wright said on June 9. The waterway is one of the world’s key oil transit routes, so changes in vessel movement there are closely monitored by energy and financial markets for clues on supply conditions and regional risk.