What will it take for ships to start sailing through the Strait of Hormuz again?
CBSN
Before the U.S. and Israel attacked Iran on February 28, an average of 100 vessels per day would safely traverse the Strait of Hormuz. On Wednesday, only one or two ships crossed the narrow waterway, according to MarineTraffic, a ship tracking website. Edited by Alain Sherter In:
Before the U.S. and Israel attacked Iran on February 28, an average of 100 vessels per day would safely traverse the Strait of Hormuz. On Wednesday, only one or two ships crossed the narrow waterway, according to MarineTraffic, a ship tracking website.
Reopening the strait, which ordinarily handles some 20% of daily global oil shipments, is widely viewed as essential to bringing down the soaring energy prices caused by the Iran war.
In an interview with CBS News' Major Garrett, American Petroleum Institute CEO Mike Sommers on Wednesday characterized the strait's closure as a "nightmare scenario" for the global economy. "There is no replacing the 20 million barrels of oil that go through the Strait of Hormuz," Sommers said.
Here's what experts said must happen for oil tankers to start sailing again.
The Strait of Hormuz is currently too risky for commercial ships to navigate, with suspected Iranian drones on Wednesday striking at least three ships in and around the channel. Many insurers have also withdrawn coverage for tankers in the region.
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Before the U.S. and Israel attacked Iran on February 28, an average of 100 vessels per day would safely traverse the Strait of Hormuz. On Wednesday, only one or two ships crossed the narrow waterway, according to MarineTraffic, a ship tracking website. Edited by Alain Sherter In:
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