Gulf oil tanker rates shatter records as Strait of Hormuz deal triggers a rush | World News
4 min readNew DelhiUpdated: Jun 24, 2026 01:21 PM IST It’s a win for oil tanker operators as traffic through the Strait of Hormuz and the larger Gulf region resumed this week, news agency Reuters reported quoting shipping data and sources. Traffic through the vital energy route has remained modest since Iran lifted its effective blockade last week as it agreed to a 60-day ceasefire with the US, sources stated. Official talks to end the US-Iran war, however, continue. The number of ships passing through the strait now is only a fraction of the daily average of 125 — that existed before the conflict began on February 28 this year. Moreover, about 100 tankers are still stuck inside the Gulf with cargoes onboard, Reuters reported quoting market estimates. Shortage of vessels The situation has contributed to a shortage of available vessels even as Middle Eastern crude producers ramp up exports. Amid this shortage, the rates for hiring a tanker outside the Hormuz jumped to $190,500 a day from $106,500 a week ago, according to ship …









