TransportationWith Hormuz unpassable due to Iran war, ships vie for limited canal transit slotsOnly a limited number of ships can pass through the Panama Canal each day. © ReutersRIONA GOMI and HINAKO SATOMay 12, 2026 01:32 JSTTOKYO -- Crude oil and petroleum products traveling through the Panama Canal swelled more than 70% above last year's levels in April, as the effective closure of the Strait of Hormuz sent Asian buyers scrambling to secure supplies from the U.S.
Panama Canal oil shipments soar 70% as Asian buyers turn to US crude
With Hormuz unpassable due to Iran war, ships vie for limited canal transit slots
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