LONDON, March 4: Tanker traffic passing through the Strait of Hormuz has fallen by 90% amid the escalating war in the Middle East, according to maritime data firm Kpler.
The dramatic decline highlights growing fears over the security of one of the world’s most critical oil transit chokepoints. The Strait of Hormuz connects the Persian Gulf to global markets and typically carries a significant share of the world’s seaborne crude oil and liquefied natural gas exports.
Shipping analysts say tanker operators are avoiding the route due to heightened risks following military exchanges in the region. Insurance premiums for vessels entering the Gulf have reportedly surged, while several shipping companies have temporarily suspended operations.
The slowdown in maritime traffic has raised concerns about potential disruptions to global energy supplies and volatility in oil prices. Countries in Asia and Europe, heavily dependent on Gulf energy exports, are closely monitoring the situation.
Industry experts warn that a prolonged disruption in the Strait of Hormuz could have serious consequences for international trade and global fuel markets if hostilities continue.
Strait of Hormuz Oil Tanker Traffic Plummets 90% Amid Middle East War
Leave a Reply