Shipping traffic via Strait of Hormuz stays lower than 10-day average, data shows

Shipping traffic via the Strait of Hormuz was lower than average on Wednesday. According to preliminary shipping data, ten commodity vessels transited the strait, up from seven the day before, but below the 10-day moving average of around 17. The data may change as some ships turn off their transponders during voyages.

The Strait of Hormuz typically handles around 125 large commercial vessels per day, including tankers, gas carriers, and bulkers, which account for about 20% of the world's daily crude oil and liquefied natural gas supply. However, according to Free Malaysia Today, some vessels may have crossed the strait with their transponders turned off to avoid detection.

Iran and the US remain far apart on ending the war, but diplomacy continues, a senior Iranian official told Reuters. The US is exploring alternative routes for oil supplies, with the head of America's Energy Dominance Council, Jarrod Agen, saying the goal is to create redundancy in routes to prevent any one route from being attacked and shut down.

Brief written by urgent.news from Business Recorder, Free Malaysia Today, ABC News AU, Arabian Business, The National Business — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.