Return to normal is never an option
Before the war, around 120-140
vessels crossed the Strait of Hormuz each day, carrying
roughly one-fifth of
globally consumed petroleum liquids and a similarly significant share of LNG
trade.
After hostilities began in late February
2026, traffic collapsed by more than 90
per cent at the height of the disruption, while Brent crude
climbed from the low-US$70s
before the conflict to as high as US$118 per
barrel in late March.
The recovery was uneven: dozens of
vessels crossed on some days following the June truce,
although laden cargo flows remained around half of pre-war levels, while Brent
fell to approximately US$72 per
barrel by 26 June.
That improvement proved temporary. When the
hostilities resumed after the Iranians buried their deceased Supreme Leader, only
three
commodity vessels crossed in mid-July, while Brent settled at around US$88
after gaining almost 16 per cent within the week.
Read the full article on BERNAMA.
Cover image credit: ezps / Magnific
