Last week, the volume of shipping through the Strait of Hormuz reached its highest level since the Middle East crisis began in February. According to analysts at the U.S. bank Goldman Sachs, if the oil flow continues at this pace, daily shipments could reach pre-war levels of 23 million barrels by early July.
According to sea-news.az oil prices on the stock exchanges have decreased against the backdrop of the expected negotiations between the U.S. and Iran in Doha. Currently, Brent crude is trading around $72, and Light crude around $70. Experts note a cautious optimism in the market.
On the other hand, Iranian and Omani officials will begin discussions in the coming days to re-determine shipping routes in the strait. Tehran intends to maintain control over the strait, while Oman does not support the collection of transit fees from vessels. Despite all this, the number of ships passing through the strait is increasing. According to Kpler data, 24 tankers passed through the strait on Monday alone, indicating that shipping companies’ confidence in this route is being restored.
