President Donald Trump’s plan to reopen the Strait of Hormuz appears to be working, as transits show the strongest signs yet of returning to normal operations.

Commercial shipping is steadily increasing under the 60-day U.S.-Iran ceasefire, easing fears of prolonged global oil supply disruptions and driving crude prices lower.

New maritime data shows vessel traffic through the strategic waterway has more than quadrupled over the past week as shipping companies cautiously resume voyages through the Persian Gulf.

According to maritime intelligence platform Signal, the number of traceable daily voyages entering and leaving the Gulf increased from just one or two ships during most of the conflict to eight vessels by July 1, based on a seven-day moving average.

But the number of ships moving through with their transponders off is believed to be considerably higher. One study estimated that as many as 40 ships a day transited the strait over the past week.

More here

Tagged: Breaking News BACK TO HOMEPAGE