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Shipping stalls in Strait of Hormuz after Iran declares key waterway closed again
Shipping 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 trackers showed Iranian tankers continued to sail through the strait, a narrow waterway that typically handles around 20% of the world’s oil traffic. There was a recovery in oil tanker traffic through the strait immediately after the U.S. and Iran signed a 14-point memorandum of understanding (MOU) last week but the latest data shows this has already hit a snag. An analysis ... (full story)
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