Crude shipments through the Strait of Hormuz rose this week to their highest level since the U.S.-Israeli conflict with Iran began in February after a ceasefire deal reopened the waterway, data showed
Crude shipments through the Strait of Hormuz rose this week to their highest level since the U.S.-Israeli conflict with Iran began in February after a ceasefire deal reopened the waterway, data showed on Thursday.
Concerns about how long the strait would stay open also boosted trade.
Still, while there was an increase in oil shipments amid strong demand, especially in Asia after months of disruptions, overall sailings are still a fraction of the daily average of 125 ships passing through the strait before the February 28 conflict began.
Four tankers carrying six million barrels of crude oil sailed through the strait on Thursday and an additional four million barrels of Iranian crude onboard two separate tankers also left, according to analysis from Kpler.
On Wednesday, some 10.8 million barrels of oil were shipped out on six tankers, Kpler analysis showed.
"The rebound reflects the adaptability of Mideast Gulf export systems rather than a clean return to pre-conflict trade," Kpler said in a report this week.
Many ships have been switching on their public AIS tracking transponders, but some may have gone undetected due in part to major disruption of AIS signals as well as ships not showing their movements through
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