Iraqi oil tanker heads to India as Hormuz traffic slows
Business
An Iraqi oil tanker is approaching India, even though the Strait of Hormuz, a major route for global oil, has been a hotspot for weeks.
Ongoing conflict in the region has seriously slowed down ship traffic, with daily crossings dropping well below normal for nearly three months.
Hormuz transits dropped to 5
The tanker, named "Karolos," loaded up with Basra crude earlier this month and managed to squeeze through the disrupted strait.
Ship-tracking data show transits have dropped from 11 a day to just five at one point.
Meanwhile, Iran is still enforcing its blockade and messing with tracking signals, making things tricky for everyone trying to move oil through Hormuz.