MarineTraffic shipping data is saying that three oil and chemical tankers are diverting away from the Strait of Hormuz. And adding to that story is oil market journalist, Amena Bakr, who says that Kpler ship tracking is also showing two crude oil supertankers reversing course near the Strait of Hormuz.
Disruptions are to be expected and that's what markets are worried about, leading to the spike in oil prices to start the week earlier today. That being said, it remains to be seen how much disruption there would be as Iran has threatened many times over the years to stop operations at the Strait of Hormuz. And they have been unsuccessful at each and every time.
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