Strait Traffic Surge Eases Supply Fears, Will Oil Break Lower Monday? | Market Editor's Pick

Traffic through the Strait of Hormuz has jumped almost 400% in two weeks, according to UK Maritime Trade Operations (UKMTO) data, easing near-term crude supply fears. In the week ending Aug. 7, UKMTO logged 39 full transits; a week later it rose to 151; and the latest week to Aug. 21 shows 192. That said, the strait is still running about 90% below pre-war volumes, with most returning ships sailing near Oman’s coast. The rise may partly reflect vessels switching transponders back on, not a true surge in oil barrels. Output and crack-spread tightness remain key for prices.