Traffic through Strait of Hormuz ‘halts again’

Lloyd’s List, a maritime intelligence firm, says that traffic that had been moving at reduced levels through the Strait of Hormuz “immediately halted”, with some turning back, after the US president announced plans for a blockade.

It said shipping flows through the strait had continued to operate, albeit at reduced levels, on Sunday, prior to the blockade being announced.

“There had been a small uptick in tankers transiting the strait on Saturday as shipping companies prepared to risk the tentative ceasefire deal to exit some vessels from the Middle East Gulf,” it said.

“In the wake of Trump’s naval blockade announcement, however, all traffic appears to have halted and at least two vessel that had appeared to be heading to exit the strait have since turned around.”

 Oil prices have risen sharply following US President Donald Trump’s announcement of a naval blockade of Iran.

Brent crude, the international benchmark, rose more than 8 percent on Sunday to top $103 a barrel.