Tanker traffic through the Strait of Hormuz has essentially ground to a halt.

As the 60-day ceasefire between the U.S. and Iran teeters, oil tanker traffic through the Strait of Hormuz has essentially ground to a halt. Jorge Leon, head of geopolitical analysis at research firm Rystad, stated: "As of today, traffic appears to have completely halted." This "near-stagnation" reflects current risk perceptions more accurately than any statement from Washington or Tehran. According to Kpler data, only four tankers have transited the strait so far today. Naveen Das, a senior oil analyst at Kpler, noted that since the U.S. and Iran reached their 60-day ceasefire on June 17, an average of roughly 32 tankers have transited the strait daily. That figure is nearly three times the average daily traffic between the February outbreak of hostilities and the June 17 ceasefire, though it remains far below pre-conflict levels.