Crude Oil Shipments Resume Through Strait of Hormuz
Summary
Three giant supertankers carrying approximately 6 million barrels of crude oil resumed passage through the Strait of Hormuz after more than two months amid tensions from the US and Israel's actions against Iran.
Key Points
- Three giant supertankers carrying around 6 million barrels of crude oil recently exited through the Strait of Hormuz after being stopped for over two months.
- A significant reduction in ship traffic through the Strait of Hormuz has occurred since the US and Israel launched conflict against Iran on February 28.
- Before the conflict, 125 to 140 ships traveled daily through the Strait, now only about 10 ships cross daily, mostly small cargo and chemical tankers.
- The 'Universal Winner' supertanker, carrying 2 million barrels from Kuwait, is heading to Ulsan, South Korea, expected to unload on June 9.
