Danske Bank research team says Strait of Hormuz traffic fell to its lowest in
over two months. Kpler data show that after last week’s tanker attacks only
seven commodity carriers transited the strait on Tuesday, marking the most
active week of attacks on tankers since the outbreak of the Iran-related
conflict. European diesel prices surged. IEA member countries agreed to
accelerate the release of the 400 mln-barrel stockpile pledged in March but will
not exceed that amount, effectively front-loading existing commitments rather
than adding new supply, a move markets found disappointing. US consideration of
a military strike on Iran ahead of the midterm elections further pushed oil
above $102/bbl.
