The number of vessels passing through the Strait of Hormuz has dropped by 70% amid regional tension, according to Marine Traffic. Iran has not officially closed the strait, but attacks on tankers and high security risks have led to a sharp rise in insurance costs and nearly a complete halt in shipping.
Around 150 tankers carrying oil and LNG have stopped outside the strait, which could affect 30% of global maritime oil trade and a significant portion of LNG trade. The dramatic reduction in traffic is reinforcing fears of new turbulence in international energy markets, with an immediate risk of rising prices and wider impacts on global trade.
Source: www.naftempiki.gr
