Strait of Hormuz traffic rebounds with dozens of ships passing after US-Iran deal
Ship traffic through the Strait of Hormuz has rebounded since the US-Iran deal aimed at ending the war was signed last week, with 42 vessels passing on Saturday alone. Brent crude has slipped back to around $76 per barrel.
BBC cited LSEG and Kpler shipping-tracking data showing 42 vessels passed the Strait of Hormuz on Saturday and 38 on Sunday, near the weekly average of the prior year and reversing the steep drop seen in early June. The Strait carries about one fifth of the world's daily oil shipments.
IMO secretary-general Arsenio Dominguez said insurers have restored discounted war-risk clauses, and Lloyd's of London market premia have eased to about 0.15% per voyage. Port terminals in Singapore, Rotterdam and Houston are updating supply-chain plans.
Brent crude closed at $76.4 on Friday and WTI at $73.2. Saudi Aramco trimmed its August Middle East crude premium by $1.1 per barrel, and Indian and Chinese refiners are recalibrating supply schedules.
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