Bloomberg tracking data shows maritime traffic through the Strait of Hormuz nearly ceased this morning, with shipping firms ordering tankers to halt or turn around. Oil prices spiked to approximately $85 per barrel.
Oil prices spiked to approximately $85 per barrel this morning, as new Bloomberg tracking data confirmed that the Strait of Hormuz remains effectively shut down. The surge follows earlier reports of near-zero traffic at 09:53 Jerusalem, with shipping firms ordering tankers to halt or turn around, and some vessels moving in the Iranian-controlled northern lane or disabling transponders to avoid IRGC risk.
The disruption is the latest in a sustained blockade that has escalated over the past week. As The Zioneer reported on Thu Jul 9 at 09:14 Jerusalem, only six vessels transited the strait the previous day — the lowest count in five weeks, according to maritime tracking firm Kpler, cited by Reuters. Earlier that same morning, Bloomberg data showed tankers halting and vessels disabling transponders. The standstill follows a 72-hour near-complete halt reported on Fri Jul 10 at 14:08 Jerusalem, and a broader pattern of declining traffic since Iran's declared closure on Jun 11.
Iran's closure declaration on Jun 11 initially sent oil prices surging, as The Zioneer reported at 07:40 Jerusalem that day. The waterway handles roughly a fifth of global petroleum traffic. While U.S. Central Command reported on Jun 20 that 55 commercial ships transited the strait that day, traffic has since collapsed amid renewed U.S.-Iran strikes and heightened safety risks for shipping.
It remains unclear whether the near-total halt reflects a coordinated shipping industry response, direct Iranian enforcement, or a combination of both. The status of vessels that have disabled transponders — and whether they are moving undetected or have been detained — is unverified.
6 developments
- DevelopingOil surges after Iran declares Strait of Hormuz closure
- StrongOil prices surge to $85 per barrel, extending rally
- DevelopingColumn argues Strait of Hormuz reopening could crash oil price to $20, destroy US shale industry
- DevelopingOil prices surge sharply after US sanctions on Iran over Hormuz incidents
Source and signal
- Internal intake