Commodity vessel traffic through the Strait of Hormuz declined to six on Tuesday, down from nine a day earlier and below the 10-day daily average of 11, as geopolitical tensions between Iran and Western powers intensified following the expiry of a June ceasefire framework.
Brent crude futures rose 0.3% to $91.30 a barrel on Wednesday, reflecting market concerns over potential disruptions to a key oil transit route. Before the Middle East conflict escalated in late February, roughly one-fifth of global oil and liquefied natural gas shipments passed through the strait, underscoring its critical role in energy markets.
U.S. President Donald Trump stated on Tuesday that no negotiations or scheduled talks were underway with Tehran, while asserting that a naval blockade of Iranian ports remains in effect. He added that the Strait of Hormuz remains open and that any water mines in the conduit have been removed or detonated. Iran’s parliament speaker and top negotiator, Mohammad Bagher Ghalibaf, countered that the strait would remain closed until Washington met conditions including lifting the naval blockade, unfreezing assets, removing oil sanctions, and halting military operations.
A senior Iranian official told Reuters that Iranian entities were prepared to escalate tensions in the Strait of Hormuz and the wider region, warning that difficult decisions could follow. The comments followed the expiry of the June memorandum of understanding, a temporary ceasefire framework that had been in place since the conflict’s initial escalation.
Geopolitical analysts note that even temporary disruptions to Hormuz traffic could have outsized effects on global oil supply, given the strait’s role as a chokepoint for Middle Eastern crude exports. Traders are monitoring developments closely as diplomatic channels remain frozen and military posturing continues.
