Traffic through the Strait of Hormuz rose to its highest level in weeks, as more countries negotiated with Iran for safe transit.
“Passage is still at Iran’s mercy,” a Kpler analyst said, with nations striking opaque deals with the Islamic Republic to get through the strait; ships linked to India, Iraq, China, and Japan have passed, Bloomberg reported.
Others, like South Korea, are looking to increase crude shipments through the Red Sea as an alternative.
Observing activity in Hormuz has largely been dependent on satellite imagery and ship-signal tracking, but some on Wall Street are desperate for an edge: New York-based Citrini Research sent an analyst to the northern UAE to monitor the situation.
