Only One Commodity Vessel Exited Strait of Hormuz Wednesday
Ten vessels crossed the waterway, below its 10-day average of about 17, while Brent crude rose above $103 per barrel.
Only one commodity vessel exited the Strait of Hormuz on Wednesday, as traffic through the key energy route remained well below its recent average and Brent crude climbed above $103 per barrel amid stalled U.S.-Iran diplomacy.
Preliminary tracking counted 10 commodity vessels crossing the strait on Sept. 23: nine inbound ships and one outbound Supramax vessel carrying fertilizer. The daily total rose from seven vessels Tuesday but remained below the 10-day moving average of about 17 vessels.
The vessel count was current as of 12:23 a.m. ET (0423 UTC) Thursday.
Before the conflict began Feb. 28, about 125 large commercial vessels typically passed through the Strait of Hormuz each day. The route carried roughly 20% of global daily crude oil and liquefied natural gas supplies, making the disruption a risk for energy costs, inflation and crypto markets.
