Iran-U.S. Strikes Cut Hormuz Tanker Traffic to 12 From 57 as Oil Risks Rebound
Updated
Updated · POLITICO · Jun 30
Iran-U.S. Strikes Cut Hormuz Tanker Traffic to 12 From 57 as Oil Risks Rebound
3 articles · Updated · POLITICO · Jun 30
Summary
Kpler data showed ships leaving the Strait of Hormuz fell to 12 on June 28 from 57 on June 24 after Iran attacked at least two vessels and the U.S. launched counterstrikes.
Oil prices have stayed lower than many experts predicted because China cut imports by at least 3 million barrels a day, tankers still slipped through the strait, and futures markets never fully priced the disruption.
WTI crude was $67 on Feb. 27, before the U.S. and Israel bombed Iran, and Trump’s repeated promises of a quick end to the war helped cap prices near $110 rather than drive a bigger spike.
Strategic reserve releases, dozens of tankers escaping the strait and Iran exporting more than 40 million barrels after some sanctions relief added supply, but analysts say that cushion is fading.
Energy analysts now warn the price drop could be temporary because storage buffers are nearly exhausted, China could raise imports again, and the ceasefire remains fragile.