Strait of Hormuz Oil Tanker Traffic Faces "Significant Disruption"

BlockBeats News, July 8th, as the 60-day ceasefire agreement between the United States and Iran is on the brink, oil tanker traffic through the Strait of Hormuz has come to a "virtual standstill." Jorge Leon, Geopolitical Analysis Director at Rystad, stated: "As of today, transit seems to be completely interrupted. This 'virtual standstill' state reflects the current risk appetite more than any statements made by Washington or Tehran."

According to Kpler data, only four oil tankers have passed through the strait so far today. Naveen Das, Senior Oil Analyst at Kpler, stated that since the 60-day ceasefire agreement was reached between the U.S. and Iran on June 17th, the average daily number of tankers transiting is around 32. This number is nearly triple the daily average during the conflict escalation (February) to June 17th agreement period, although still significantly below pre-war levels.