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Strait of Hormuz Oil Shipments Halted Amid Middle East War

Bloomberg Markets •
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Maritime traffic through the Strait of Hormuz has nearly ceased, with no oil tankers transiting in the past 24 hours, according to the Joint Maritime Information Center. The vital waterway saw only two commercial vessels cross during this period, both cargo ships rather than oil tankers, as regional conflict escalates.

Dozens of fully-laden oil and gas tankers remain anchored within the Persian Gulf, unable to reach customers in Asia and Europe. The frequency of attacks on ships in and around the strait continues at high levels, making passage too risky for vessels carrying multimillion-dollar energy cargoes. Washington's offer of insurance backstops and naval escorts this week has not yet convinced shipowners to resume operations.

The JMIC reported just one inbound and one outbound vessel crossing the strait on March 4, though this tally only includes ships with active transponders. The situation reflects sophisticated interference with GPS signals affecting navigation and communications in the area, complicating efforts to monitor maritime activity.