Transit through Strait of Hormuz falls by third this week — Reuters

Strait of Hormuz developmentsTransit through Strait of Hormuz falls by third this week — Reuters The decline is taking place against the backdrop of progress in negotiations between Iran and Oman regarding shipping in the straitLONDON, August 7. /TASS/. The number of commercial vessels that passed through the Strait of Hormuz between Monday and Thursday fell by a third compared to the same period last week from 50 to 33, Reuters reported, citing Kpler data. The decline is taking place against the backdrop of progress in negotiations between Iran and Oman regarding shipping in the strait. According to Reuters sources, a number of Chinese and Indian companies attempted to charter vessels this week to transport oil from Iraq via the Strait of Hormuz, taking advantage of steep discounts. However, shipowners refused to provide their tankers, citing safety concerns. On August 6, the Al Arabiya TV channel reported, citing sources, that Iran and Oman had reached a mutual understanding regarding the key parameters of an agreement to resume shipping in the Strait of Hormuz. According to the report, the deal could be officially announced in the coming days, though it still requires approval from Iran’s Supreme National Security Council. The proposed agreement is set for a 60-day period and aims to break the deadlock and initiate technical talks. 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