Tankers Flee Strait of Hormuz
Following U.S. strikes on Iran, tanker traffic through the Strait of Hormuz has dropped sharply.
Two VLCCs—Coswisdom Lake and South Loyalty—made U-turns near the strait, reflecting rising tensions. Tanker entries and exits fell by 32% and 27%, respectively.
Iran’s parliament approved a resolution allowing potential closure of the strait, a key oil route handling 20% of global supply. Though not enforced yet, the threat has rattled markets—Brent crude surged over 9%.
Ship movements show zig-zagging, detours, and delays. Some resumed transit, but GPS jamming and electronic interference persist.
Despite the strait remaining open, risk to global energy and shipping remains high.
Source: Reuters
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Driving to work.
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Over the last 7 years:
• Coffee: +127%
• Home prices: +60%
• Auto insurance: +51%
• Gasoline: +49%
• Electricity: +44%
• Shelter: +35%
• Groceries: +33%
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