Hormuz traffic drops to 5 ships after Iran reinstates closure
Why it matters: The strait handles key Gulf oil flows, and Saudi, Kuwaiti and Emirati cargoes are already shifting loading options.
Ship traffic through the Strait of Hormuz fell sharply Sunday after Iran reinstated its closure of the waterway, with Kpler data showing just five vessels transiting, down from 26 a day earlier. The ships included three very large crude carriers, each able to haul about 2 million barrels, with one Saudi cargo bound for Japan. Iran had eased its effective blockade last week after agreeing with the United States to extend an April ceasefire by 60 days for peace talks, but the Islamic Revolutionary Guard Corps moved to shut the strait again after Israeli strikes in Lebanon. Direct US-Iran talks opened Sunday in Switzerland, while the US military said commercial shipping was still operating.