Strait of Hormuz shipping traffic rebounds after strikes between Iran, US

Shipping traffic through the Strait of Hormuz began to rebound Monday following weekend tit-for-tat strikes between the U.S. and Iran.

Reports from the maritime tracking firm Kpler said 40 vessels passed through the critical waterway on Monday, while 24 ships transited the strait on Sunday in addition to 39 ships on Saturday.

Energy markets have responded in tandem with stabilized prices.

West Texas Intermediate (WTI) crude trading sits at around $70-$71 per barrel and Brent Crude rests at $73-$75.

Closure of the strait, a key waterway transporting roughly a fifth of the global oil supply, has been a major hiccup during the more than four-month-long conflict in the Middle East. Iran’s threats to down commercial vessels transiting the channel, the regime’s implementation of pricy tolls to ensure safe........

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