Shafaq News- Baghdad
Shipping through the Strait of Hormuz slowed sharply in April,with the key maritime route remaining largely disrupted amid the jointUS-Israeli war on Iran, despite a recently signed two-week truce.
Data shared by S&P Global on Saturday showed that nocrude oil was loaded at key ports linked to the Strait, including facilities inIraq, Kuwait, the United Arab Emirates, and Saudi Arabia. Vessel trafficthrough the strategic waterway also declined markedly, falling to 12 ships onApril 9 from an average of about 135 daily crossings.
The slowdown affected an estimated 14.2 million barrels perday (bpd) of crude oil and condensates, the data showed, while Iranian crudeexports were recorded at about 1.38 million bpd over the same period.
The Strait of Hormuz, which carries roughly 20% of globaloil supply, was effectively closed after US and Israeli strikes on Iran onFebruary 28. Despite a previously granted exemption allowing Iraqi oil tankersto transit the Strait, Iraq’s oil sector saw a sharp downturn, with productionfalling from about 3.5 million bpd to around 1.3 million bpd, while exportsdeclined to roughly 800,000 bpd.
