Hormuz Ship Traffic Falls to Weekly Low as Standoff Drags On

The number of ships passing through the Strait of Hormuz fell to a weekly low on Tuesday, according to shipping data, as vessel owners continue to steer clear of the critical chokepoint in the Middle East. Only eight vessels made the journey in either direction on Tuesday, the lowest tally since August 5, and below the 10-day average of 12, as reported by Kpler data to Reuters on Wednesday.

The waterway, which once handled 20 million barrels of oil daily before the conflict, has experienced a steady decline in traffic this week due to increased security concerns and doubts about any possible U.S.-Iran negotiations aimed at reopening the Strait.

Tensions between the United States and Iran have only added to the uncertainty surrounding the Strait of Hormuz. Iran has stated that the passage will remain closed until the United States ends the war and meets Tehran's demands, raising the stakes for any deal that could reestablish oil traffic through the vital waterway. Meanwhile, U.S. President Donald Trump claimed on Tuesday that the United States holds "total control" over the Hormuz Strait, a statement that contradicts Iran's assertion that Tehran alone determines whether the Strait is open or closed under what conditions. "We own it," Trump asserted during a press conference at Joint Base Andrews outside Washington.

U.S. officials have also argued that oil flows from the Middle East have returned to pre-war levels, with the Secretary of Energy Chris Wright asserting on Tuesday that Tuesday's traffic alone surpassed pre-conflict averages. However, this claim does not appear to be supported by ship-tracking data. As the standoff continues, the future of shipping through the Strait of Hormuz remains uncertain.