Brent Falls Back to Prewar Levels, Hormuz Crossings Rise to 44
Brent crude, the international oil benchmark, slipped back to its late-February level on Wednesday, erasing the premium built up during the Iran conflict as a wave of pent-up Gulf supply began moving again. Commercial traffic through the Strait of Hormuz, the shipping chokepoint for Gulf exports, was back up to 44 vessel crossings and climbing on an AIS-based commercial index.
Regional sales and shipping conditions also improved following last week's US-Iran interim peace deal. Qatar joined other Gulf producers in reviving crude sales, hull war-insurance premiums for Hormuz transits fell from about 5% of a ship's value to 2% after discounts, cutting costs by hundreds of thousands of dollars per ship, and Maersk said its transits had been completed without issues.
From the sources (25 posts)
@amena__bakrConfirmed crossings through the monitored Strait of Hormuz zone rose sharply over 19–21 June, with 71 total transits recorded. @Kpler #OOTT
@staunovoThe number of Japan-related vessels remaining in the Gulf has fallen to 37 from 45 at the start of the Iran war, with seven ships having transited the Strait of Hormuz and one transferred to a non-Japanese operator, according to the Japanes
@staunovoRT @Amena__Bakr: Confirmed crossings through the monitored Strait of Hormuz zone rose sharply over 19–21 June, with 71 total transits recor…
@cnbcShipping stalls in Strait of Hormuz after Iran declares key waterway closed again
@annmarieIran has ramped up the amount of oil it sends openly through the Strait of Hormuz to the highest since the war began. About 6 million barrels are on three US-sanctioned supertankers — Elva, Virgo and Vigor — that entered the chokepoint ear
@marinetrafficStrait of Hormuz crossings rebound, but recovery remains fragile Vessel activity through the Strait of Hormuz increased sharply between 19 and 21 June, with 71 confirmed transits recorded and a weekend peak of 35 crossings on 20 June, acco
@osint613Maritime traffic through the Strait of Hormuz has edged higher over the past 24 hours, according to MarineTraffic data.
@gbrew24Snapshot of the strait: Three laden Iranian VLCCs are currently exiting. Three empty Qatar LNG tankers are currently entering.
@cnbcShipping through the Strait of Hormuz stalled over the weekend, according to maritime intelligence company Windward, after Iran announced it had again closed the world’s most important oil choke point. The update comes even as industry tra
@dlacalle_iaVessel activity through the Strait of Hormuz increased sharply between 19 and 21 June, with 71 confirmed transits recorded and a weekend peak of 35 crossings on 20 June, according to #MarineTraffic data.
@staunovoIndia-bound fertilizer ships cross Hormuz, government says
@staunovoMore than 400 large ships are holding positions off the eastern side of the Strait of Hormuz, as tanker owners and operators wait for the wider reopening of the waterway following negotiations between the US and Iran. FT analysis of satell
@staunovo#Iraq's export crisis: Hormuz and pipeline uncertainty Iraq's oil exports are severely strained by the Hormuz closure and threatened by expiring northern pipeline deal, pushing production to decade lows #oott
@oilandenergyA U.S.-Iran MOU may have eased fears temporarily, but Oilprice warns the real threat is dwindling global oil inventories. As “tank bottoms” approach and Hormuz traffic remains restricted, a supply crunch could trigger a new surge in crude p
@oilandenergyThe Strait of Hormuz is no longer simply “open” or “closed.” Analysts warn that GPS spoofing, insurance hurdles, sanctions compliance, and new Iranian transit rules are creating major risks for physical oil flows—risks largely ignored by fu
@zerohedgeUN Maritime Agency Initiates Plan To Clear Hormuz Traffic: Hundreds Of Vessels, 11K Sailors
@reutersEvacuation plan through Hormuz for stranded ships in Gulf underway, UN agency says
@ftHormuz closure strands almost 1,200 cargo ships with $125bn worth of goods
@firstsquawkHormuz closure strands almost 1,200 cargo ships with $125bn worth of goods-FT
@oilheadlinenewsOil tankers are being lured back into the Strait of Hormuz by big payouts
@johnkonradRT @StateDept: SECRETARY RUBIO: "No country is allowed to charge tolls or fees on an international waterway."
@thestudyofwarNEW: Iran is taking steps to establish a joint mechanism with Oman to try to exercise long-term authority over the Strait of Hormuz. Such a mechanism would enable Iran to regulate transit through the strait and decide to restrict passage at
@menchosintSo, as mentioned in the MoU, Oman confirms there will be a temporary free passage, then fees will be charged, probably after 60 days.
@hfi_researchRT @OilandEnergy: The Strait of Hormuz may be reopening, but tanker markets remain in crisis mode. Daily tanker rates have nearly doubled t…
@mercoglianosRT @EYakoby: BREAKING: Secretary Rubio makes clear that Iran will not be allowed to charge tolls. “The Strait of Hormuz is an internationa…