Iran reveals terms to reopen Strait of Hormuz as US considers peace proposal

Oil exports through the Strait of Hormuz have remained steady this week, with preliminary data from Kpler showing 33.7 million barrels of crude exiting the strategic waterway since Sunday. This figure is close to last week's levels, with 19 tankers, including 17 very large crude carriers (VLCCs), transiting the strait. Most of the shipments were Saudi crude, followed by Iraqi exports.

According to a US official, around 60 commercial vessels of various sizes passed through the Strait of Hormuz on Wednesday, carrying the largest daily volume of oil since early July. Saudi Aramco has increased its exports through the strait after shipments from the Red Sea port of Yanbu were halted due to attacks on the East-West pipeline.

However, the number of cargo ships passing through the Strait of Hormuz on Thursday dropped to nine from 14 the previous day, though some vessels may be sailing with their transponders turned off and are not counted. The 10-day average for vessel transits is 18. Prior to the Iran war outbreak on February 28, the strait typically saw about 125 large commercial vessels pass daily, accounting for roughly 20 percent of global daily crude oil and liquefied natural gas supplies.

Brief written by urgent.news from Ajel English's own syndicated text. Machine-written — may contain errors; check the original before relying on it.