Hormuz blockade: day 47 and the oil still isn't moving

Six weeks into Iran's blockade of the Strait of Hormuz, tanker traffic has fallen to 3.5 oil and gas tankers per day in April from nearly 50 per day in February. The sharp drop underscores a major disruption to global energy transport and raises the risk of tighter oil and gas supply conditions. The event is geopolitically significant and likely to support risk-off positioning across energy and shipping markets.

Analysis

Six weeks into Iran's blockade of the Strait of Hormuz, tanker traffic has fallen to 3.5 oil and gas tankers per day in April from nearly 50 per day in February. The sharp drop underscores a major disruption to global energy transport and raises the risk of tighter oil and gas supply conditions. The event is geopolitically significant and likely to support risk-off positioning across energy and shipping markets.