No oil tankers traversed the Strait of Hormuz for the entire first day of the ceasefire between the United States and Israel, despite the waterway being opened by the Islamic Republic.
The first 24 hours after the ceasefire was implemented, four bulk carriers traversed the strait, but no oil or gas tankers, the ships highest in demand, global ship-tracking firm Kpler told the New York Times. After Israeli airstrikes against Lebanon caused Iranian state media to announce the strait was “fully closed” again on Wednesday, no ships crossed the strait.
The last vessel to make the trip was a bulk carrier at 10:45 a.m. local time on Wednesday. One vessel turned around in the middle of the strait, reflecting Iranian media’s claim that some were turned back after the Israeli strikes on Lebanon began.
Kpler media relations manager Nikos Pothitakis summed up the situation, telling the outlet that, whatever the official status, the Strait of Hormuz was “pretty much closed.”
The refusal of oil and gas tankers to traverse the strait, even after a ceasefire was announced, highlights shipping companies’ lingering anxiety about the staying power of the two-week ceasefire. The failure of oil and gas tankers to begin their journey is likely to be received poorly by President Donald Trump, to whom the strait blockade was the greatest political cost of the war.
The hesitance of oil tankers could also reflect fears over mines. Iran has openly warned of the danger and told vessels that safe passage through the strait is only possible with the coordination of Iran’s military.
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If oil tankers’ hesitance to cross continues, it’s unlikely gas prices will fall anytime soon. Some experts warned that even if the ceasefire holds, it could take weeks for prices to fall.
Despite the de facto closure of the strait, the ceasefire between Iran and the U.S. held, with neither hitting the other for the first 24 hours. Uncertainty reigns over whether a peace deal will be struck to indefinitely extend the ceasefire, with confusion surrounding the peace process.
