Attacks on at least nine ships since July 6 and growing crew fears have pushed traffic through the key oil chokepoint lower, as shippers weigh missile and mine risks.
Confirmed vessel crossings through the Strait of Hormuz fell to a three-week low on July 16, with only eight passages recorded, according to Kpler, as attacks on shipping and worsening security concerns discouraged transits. Maritime risk executives and shipping analysts said at least nine ships had come under attack since July 6, with Iran seeking to push vessels into routes through its territorial waters instead of the lane along Oman's coast that is protected by the U.S. military. The traditional traffic separation scheme through the middle of the strait was described as too dangerous because of mine risks, while crews were increasingly reluctant to sail regardless of financial incentives. The deterioration in traffic through one of the world's most important oil chokepoints adds to uncertainty around crude supply and could fuel volatility in international oil prices.