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Market Chatter: Hormuz Shipping Rebounds as US Escorts Oil, Gas Tankers Through Waterway

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Shipping through the Strait of Hormuz is recovering, with 14 commodity vessels crossing Wednesday as the US said military escorts helped keep about 6.5 million barrels of daily oil exports moving, Bloomberg reported Thursday, citing data from Kpler.

Qatar resumed liquefied natural gas exports through the Strait of Hormuz on Thursday for the first time in three weeks, while a liquefied petroleum gas carrier appeared to transit with its transponder switched off.

Shipowners and traders continue tracking activity through the Strait of Hormuz and the Bab el-Mandeb Strait as changing security risks reshape shipping routes. Traffic had weakened after US strikes on Iran in mid-July before recovering despite renewed hostilities.

US Energy Secretary Chris Wright said military escorts kept about 6.5 million barrels of daily oil exports flowing through Hormuz over the past week, restoring global oil and refined product supplies. The US Department of Energy did not immediately respond to' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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