Ship traffic through Hormuz falls as U.S. and Iran fight for control
Ship traffic through the Strait of Hormuz has dropped by 60% amid escalating tensions and military conflict between the U.S. and Iran. The U.S. is attempting to maintain oil flow while imposing new naval restrictions.
Why it matters
Disruptions in the Strait of Hormuz pose a major risk to global energy security and oil prices.
More than 8 million barrels of oil transited the Strait of Hormuz on Sunday with U.S. military assistance amid the renewed fighting with Iran, the U.S. Energy Department told CNBC in a statement.
"The U.S. military will ensure oil flows continue, with or without the Iranians, to keep markets well supplied," an Energy Department spokesperson said Monday. Total flows out of the Middle East Gulf region are averaging 15 million barrels per day, the spokesperson said.
Ship tracking firms recorded a steep drop in traffic through Hormuz over the last week, after Iranian attacks on commercial vessels sparked renewed fighting between Washington and Tehran.
Fourteen ships transited Hormuz on Sunday, four of which were crude oil tankers, a decline of about 60% compared with the 37 vessels that crossed the same day last week, according to data from the trade intelligence firm Kpler.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in