Ship traffic along Strait of Hormuz remains heavily suppressed
That figure is down from 17 vessels on Wednesday and falls below the 10-day average of around 15 vessels.
According to initial data from Kpler, the seven vessels that transited were two medium-range tankers, one very large gas carrier (VLGC), one Ultramax vessel, one intermediate tanker, and two chemical tankers. Of which, four vessels were seen exiting the strait with the others entering.
Despite talks and murmurs of reopening the Strait of Hormuz still, the numbers on the ground - or should I say water - continue to point to heavy disruption.
Sure, the US is still managing some backdoor efforts to get oil through the waterway and out of the region. But the fact of the matter is that the longer this continues, the bigger the chances are of a more profound dislocation to the oil market.
Even if we are seeing prices stabilise around $80 to $90 now, can it really be the case if this keeps up for another three to six months?
The US gameplan now looks to be to starve Iran out in an economic war. But after decades of sanctions and the fact that Iran still has some fallback with the likes of Russia and China, it will be tough. Does the US really want to engage on an economic warpath on multiple fronts at this juncture?
Remember, Trump said this whole ordeal was supposed to have ended in just a matter of "weeks" back in March. We're now six months in with no end in sight. And one can argue that nobody is winning in this situation. Not the US, not Iran, not the world.
This article was written by Justin Low at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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