Five commodity vessels transit Strait of Hormuz, below 10-day average

Five commodity vessels transited the Strait of Hormuz on Tuesday, little changed from Monday’s four but well below the 10-day average of 15, preliminary Kpler data showed. Two liquefied petroleum gas tankers and one bitumen tanker exited the Gulf, while two empty product tankers entered from the Gulf of Oman. Traffic through the Bab el-Mandeb, another major Middle East maritime chokepoint, was 31 commodity vessels, versus 29 the previous day and in line with its 10-day average. Iran said it had resumed talks with Oman on managing the Strait of Hormuz amid increased economic pressure from U.S. President Donald Trump. The countries explored a temporary joint shipping corridor and agreed to remove mines, but ING Economics said such an agreement would not by itself normalize oil flows. The firm said the U.S. would likely need to lift its blockade on Iranian ports and ease sanctions on Iran before traffic could move toward normal levels.

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Five commodity vessels transit Strait of Hormuz, below 10-day average - CoinPost Terminal