The number of tankers passing through the Strait of Hormuz decreased to 12 vessels over the last weekend. This is while 35 tankers had passed through the strait the previous week. This change in the number of passages may be a sign of escalating tensions and the impacts of sanctions.
Impact of Sanctions on Oil Export Trends
Analysts believe that the decrease in the number of tankers may be due to economic pressures arising from sanctions and political tensions. In particular, economic pressures from rising oil and fuel prices in the United States, which according to Patrick DeHaan, senior analyst at Gas Buddy, have reached $4.46 for gasoline and $6.49 for diesel, have impacted oil export results.
Read more: Iran Targets Another Tanker in the Strait of Hormuz
Reuters reported, citing Kepler, that this decrease in the number of tankers clearly indicates the negative impacts of sanctions on Iran's oil exports and also on the global energy supply chain. Meanwhile, analysts continue to examine various aspects of this decrease and its implications for global markets.
Challenges Facing the Oil and Fuel Market in the United States
The current state of the oil and fuel market in the United States is extremely concerning due to supply chain disruptions and rising transportation costs. These problems are such that some experts predict prices will continue to rise. While the average gasoline price has reached $4.48, public dissatisfaction with the economic situation and rising prices has also significantly increased.
In fact, given the current conditions and existing crises, analysts believe that the fuel situation in the United States could turn into a real crisis. Therefore, this rise in prices and the decrease in tanker passage through the Strait of Hormuz may be a sign of more serious challenges facing global markets.
Read more: Principled Agreement on Establishing a Non-Governmental Guarantee Fund for Iran's Oil Industry · U.S. Navy Successes in Blocking the Strait of Hormuz
