Recent shipping data indicates that traffic through the Strait of Hormuz is currently running well below normal levels. According to figures from Kpler, only five commodity vessels passed through the waterway on Tuesday, a slight uptick from Monday’s four but significantly lower than the standard 10-day average of 15 ships. This movement consisted of two empty product tankers entering the gulf, alongside three tankers carrying bitumen and liquefied petroleum gas heading out, though analysts caution that these figures are preliminary and may shift as vessels frequently disable their transponders during transit.

Meanwhile, Iran and Oman have entered discussions regarding the management of this critical maritime passage, including proposals for a joint shipping corridor and clearing mines from the area. However, market experts at ING Economics remain skeptical about the potential impact of these talks on global energy markets. They argue that any local agreement between the two nations is unlikely to restore normal oil flows, noting that a meaningful stabilization of the region would likely require the U.S. to lift sanctions and end its blockade of Iranian ports.