Oil transport costs drop as shipping traffic rises via Strait of Hormuz after Israel-Iran ceasefire – Middle East Monitor

Oil transportation costs have dropped sharply, and shipping traffic has increased through the Strait of Hormuz following last week’s ceasefire between Iran and Israel, easing concerns over disruptions in the key waterway, Anadolu reports.

The 12-day conflict between the two countries had raised fears that Iran could close the strait, a strategic chokepoint for global oil and liquefied natural gas (LNG) trade. That threat triggered price spikes and higher…