Global Markets
Home›Global Markets›Trade & Tariffs›Iran links any Strait of Hormuz reopening to security…
Iran links any Strait of Hormuz reopening to security conditions
Shiptracking shows verified crossings of the Strait of Hormuz fell to fewer than 10 vessels per day since 18 July, while LNG tankers have recorded zero crossings since 16 July.
Iran said any decision to reopen the Strait of Hormuz would depend on security considerations, according to Forexlive. The comment comes as the strait has again functioned like a de facto closure amid renewed US and Iran military activity.
Forexlive also pointed to shiptracking data indicating traffic has dropped to levels seen at the height of the earlier conflict. Verified crossings have been fewer than 10 ships per day since 18 July, and weekend activity has been roughly 13 to 19 vessels per day even when including shadow fleet crossings.
The outlet said oil and gas shipments have largely stalled, with tanker traffic limited to vessels tied to Iran or Chinese-linked firms. Since 18 July, only one VLCC supertanker has crossed the strait, and LNG tanker crossings have been zero since 16 July, a setback for Qatar.
Forexlive added that Iran is effectively returning the decision to the US, mirroring the dynamics that preceded the prior ceasefire arrangement at the end of last month. It also said a renewed ceasefire, if pursued, would likely hinge on US concessions related to oil sanctions and/or frozen assets.