Gulf oil exports struggle to recover despite higher Hormuz traffic
July 31, 2026
(Oil Price) – Shipping traffic through the Strait of Hormuz slightly increased as US-Iran negotiations remained ongoing in an effort to restore peace after the memorandum of understanding collapsed amid two weeks of tit-for-tat strikes, according to Pakistan’s Foreign Ministry spokesperson Tahir Andrabi, who provided no further details. Still, the security situation in the Gulf deteriorated overnight after the US
