According to trade intelligence firm Kpler, at least 20 oil tankers crossed the Strait of Hormuz recently, marking the highest transit level since June 2. Despite this uptick, traffic is still significantly lower than prewar levels, where over 100 ships transited daily. The increase in traffic follows the U.S.
Navy's decision to lift its blockade of Iran and Iran's temporary allowance for ships to cross Hormuz toll-free for 60 days. U.S. Vice President JD Vance noted that Iran is currently adhering to this agreement. On a recent Thursday, 25 ships, including various vessel types, transited the strait, with a near balance in directional crossings.
Notably, three supertankers from Saudi Arabia and one from the UAE were among those crossing. Kpler analysts observed that Iranian supertankers are now reactivating their transponders after previously going dark, indicating a gradual return to normal trading patterns for Iranian crude.
However, the future governance of the strait remains uncertain, as discussions regarding potential tolls will take place after the 60-day period ends, which could impact shipping costs and oil prices in the region