Kepler reports few ships at Strait of Hormuz

Ship movement data shows a sharp slowdown in navigation through the Strait of Hormuz over the weekend, with only 5 commercial ships passing on Saturday and no ships recorded on Sunday, compared to 31 ships the previous week. This comes amid escalating tensions and conflicts between the United States and Iran, including attacks on oil tankers in the strait, which have led to a decline in shipping activity and a limited increase in oil prices. Despite this, oil prices gained over 5% last week following attacks on ships and oil refineries. U.S.-Iranian negotiations remain on hold, with ongoing security tensions and accusations between Iran and the UAE regarding attacks on oil tankers.

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