Shipping traffic through the Strait of Hormuz has fallen by 90 percent, with activity slowing to a near halt over the weekend as the 60-day U.S.-Iran ceasefire approaches its expiry.
According to Kpler data cited by Reuters, only five cargo ships passed through the strategic waterway on Saturday, while no vessels were recorded on Sunday. This compares with 31 vessels that crossed the Strait during the previous weekend.
The slowdown follows a broader decline in shipping activity. A five-day average of just 13 vessel transits was recorded last Tuesday, the lowest level since May 12.
The Strait of Hormuz is a critical global energy route, carrying about one-fifth of the world’s oil supplies and normally handling an average of about 130 vessel transits per day.
The latest disruption comes as the U.S.-Iran ceasefire faces expiry, with no formal negotiations or agreement currently in sight.
Iranian Foreign Minister Seyed Abbas Araghchi said no negotiations had been held between Tehran and Washington, although Qatar and Pakistan have been exchanging messages between the two sides.
Meanwhile, oil prices edged lower on Monday, with Brent crude trading at about US$88.45 per barrel and West Texas Intermediate at US$81.79.
The continued uncertainty over the Strait has raised concerns about potential disruptions to global oil supplies, particularly if shipping activity remains severely restricted.