Hormuz Traffic Still Blocked as Only Iran-Linked Ships Cross

Ship traffic through the Strait of Hormuz remained blocked Thursday, limited to a handful of Iran-linked ships, another sign that a fragile ceasefire between the US and Iran has yet to improve flows through the world’s key energy chokepoint. Just seven vessels, all of which have either called at Iranian ports or were carrying Iranian cargo, were observed making the voyage out of the Persian Gulf on Wednesday and into Thursday morning. Normal transits in both directions are more like 135 a day. Michelle Brouhard, Head of Policy and Geopolitical Risk at Kpler joins to discuss what this means for oil market moving forward. (Source: Bloomberg)