#Cargo

Oil shipments rise in Hormuz although questions grow over Iran's transit terms

Oil shipments through the Strait of Hormuz increased following a U.S.-Iran ceasefire deal signed Wednesday, with 25 commercial crossings recorded on June 18—the highest single-day count since April 18. Gulf producers including Kuwait Petroleum Corp and Abu Dhabi National Oil Company issued tenders to raise exports. However, Iran's new permit requirements and potential transit fees have raised concerns among shippers, who reject any toll system on the international waterway.