🇺🇸 Strait of Hormuz: main shipping lane is cleared of mines
US President Donald Trump said that the US Navy has completed clearing mines from the main international shipping route in the Strait of Hormuz. Axios, citing US officials, confirmed that the operation lasted several months and involved the central TSS corridor.
This is a positive signal for the global energy market: reducing the risk of mining may help restore tanker traffic and reduce the premium for geopolitical risk.
Oil has already reacted to the decline: on August 25, Brent closed at $88.58, and WTI at $82.36.
But it’s still too early to talk about a full restoration of shipping. On August 26, only 5 cargo vessels passed through the strait versus the 10-day average of 15. Iran and Oman are also discussing a temporary navigation corridor.
⛽ Therefore, gas station prices are not required to react immediately. There is a time lag between changes in global quotations and retail prices.
For the market right now, the main question isn’t the demining itself, but whether stable tanker traffic through Hormuz will resume.
#StraitOfHormuzTensionsEase
#brent #iran #usa #OilPrice
US President Donald Trump said that the US Navy has completed clearing mines from the main international shipping route in the Strait of Hormuz. Axios, citing US officials, confirmed that the operation lasted several months and involved the central TSS corridor.
This is a positive signal for the global energy market: reducing the risk of mining may help restore tanker traffic and reduce the premium for geopolitical risk.
Oil has already reacted to the decline: on August 25, Brent closed at $88.58, and WTI at $82.36.
But it’s still too early to talk about a full restoration of shipping. On August 26, only 5 cargo vessels passed through the strait versus the 10-day average of 15. Iran and Oman are also discussing a temporary navigation corridor.
⛽ Therefore, gas station prices are not required to react immediately. There is a time lag between changes in global quotations and retail prices.
For the market right now, the main question isn’t the demining itself, but whether stable tanker traffic through Hormuz will resume.
#StraitOfHormuzTensionsEase
#brent #iran #usa #OilPrice