Strait of Hormuz Traffic Plummets to 12 Vessels on June 29 From 70 a Week Earlier After Cargo Ship Attack

According to maritime data firm Kpler, traffic through the Strait of Hormuz collapsed to 12 vessels on June 29 (yesterday), down from 70 on June 24, following an attack on Ever Lovely, a Singapore-registered container ship operated by Evergreen Marine. The sharp decline occurred as the United States and Iran escalated tensions with renewed military strikes, testing the Memorandum of Understanding they signed on June 15.

Brent crude futures rose 1.6% to $73.15 per barrel on June 29, while WTI crude climbed 2.2% to $70.75. Iran announced plans to control Strait of Hormuz passage, while the U.S. and Iran offered conflicting statements on scheduled talks in Doha.