Strait of Hormuz ship traffic hits near three-month low, with a 5-day average of ~13 vessels on Tuesday, as U.S.-Iran deal to fully open the corridor remains in doubt.
Ship traffic through the Strait of Hormuz is at its lowest level since May 12, with a 5-day average of approximately 13 vessel transits on Tuesday. This represents about a 90% decrease from the daily average of 130 ships before the U.S. and Israel attacked Iran on February 28. The decline comes amid growing uncertainty regarding a U.S.-Iran agreement to fully reopen the key Middle East oil export corridor. Despite the low vessel traffic, U.S. Energy Secretary Chris Wright stated on Tuesday that oil exports through Hormuz have reached a seven-day average of nearly 9 million barrels per day with U.S. military assistance, as some ships move covertly. Iran's top national security official Mohsen Rezaei reiterated that Hormuz will not fully open until Washington meets Tehran's demands, according to PressTV.
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