Traffic through the Strait of Hormuz was slightly higher last week, returning to levels in line with the average recorded since the start of the Middle East conflict after hitting a wartime low.A total of 55 commodities vessels crossed the strategic waterway between May 11 and 17, according to data from maritime tracking firm Kpler as of Monday morning.

Iran imposes a $2M toll for Strait of Hormuz transit, reducing ship transit odds. 20 ships transiting by May 31 now at 46.5% YES.

Iran controls parts of the Hormuz Strait, disrupting shipping. Average daily transits by May 31 at 86.5% YES for 0-10 ships.