Shipping stalls in Strait of Hormuz after Iran re-closes key oil waterway
By
Sam Meredith
Summary
Shipping through the Strait of Hormuz stalled over the weekend after Iran announced it had again closed the key oil choke point. While a recent U.S.-Iran memorandum of understanding briefly restored oil tanker traffic, the recovery has already stalled. However, industry trackers show Iranian tankers continue to sail through the strait despite the closure announcement.
Source
bskyShipping stalls in Strait of Hormuz after Iran re-closes key oil waterwaycnbc.comKey quotes
· 3 pulledShipping through the Strait of Hormuz stalled over the weekend, according to maritime intelligence company Windward, after Iran announced it had again closed the world's most important oil choke point.
The update comes even as industry trackers showed Iranian tankers continued to sail through the strait, a narrow waterway that typically handles around 20% of the world's oil traffic.
There was a recovery in oil tanker traffic through the strait immediately after the U.S. and Iran signed a 14-point memorandum of understanding (MOU) last week but the latest data shows this has already hit a snag.
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