Hormuz Traffic Falls to Three Ships as Energy Costs Pressure Crypto

Ship traffic through the Strait of Hormuz has fallen to three vessels from a normal average of 26, raising energy transport costs as crypto market positioning becomes more vulnerable.

Crude transport from West Africa to China reached $27.22 per barrel, up 319% from the $7.37 year-to-date average. Finished-fuel shipping flows remained about 33% below normal, while the U.S. Strategic Petroleum Reserve has declined 28% since May.

QCP said tighter tanker availability may keep delivery costs elevated. The disruption adds pressure to markets already facing weaker crypto fund flows and reduced buying by Strategy, which has prioritized repurchases of its STRC preferred stock.

Crypto ETF flows have cooled, while progress on the U.S. Clarity Act has stalled. The combination leaves digital-asset positioning exposed to further pressure from higher energy and transportation costs.