{"id":32681,"date":"2026-08-24T11:22:53","date_gmt":"2026-08-24T11:22:53","guid":{"rendered":"https:\/\/alchemymarkets.com\/?post_type=market_insights&p=32681"},"modified":"2026-08-24T11:25:39","modified_gmt":"2026-08-24T11:25:39","slug":"hormuz-traffic-aug-2026","status":"publish","type":"market_insights","link":"https:\/\/alchemymarkets.com\/it\/education\/market-insights\/opening-bell\/hormuz-traffic-aug-2026\/","title":{"rendered":"Hormuz Traffic Surges 400% as Iran\u2019s Oil Cargoes Dry Up"},"content":{"rendered":"\n

Traffic through the Strait of Hormuz has jumped by almost 400% in two weeks<\/strong>, with nearly 200 ships navigating the Strait last week. That\u2019s up from around 150 the week before, and just 40 two weeks earlier.<\/p>\n\n\n\n

At first glance, this sounds like the Hormuz situation is finally starting to soften.<\/p>\n\n\n\n

But there\u2019s a bit of a contradiction here.<\/p>\n\n\n\n

Iran\u2019s own oil shipments to Asia have now almost dried up<\/strong>, even before the US announces its latest round of sanctions against Tehran. Loaded Iranian vessels are reportedly getting trapped inside the Gulf, while empty tankers are struggling to get in,<\/strong> and the cost of those cargoes has jumped to its highest level in years.<\/p>\n\n\n\n

Iran\u2019s central bank governor even said last week that the country\u2019s crude exports have \u201cvirtually stopped\u201d.<\/p>\n\n\n\n

So while more ships are getting through the Strait, that does not necessarily mean Iran\u2019s oil exports, or the wider oil market, are returning to normal.<\/p>\n\n\n\n

And that makes the WTI chart quite interesting, because technically, oil is still in a local uptrend.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

WTI has broken through the descending trendline we\u2019ve been tracking, and price is now retesting the 4H 50-EMA band<\/a> after the Stochastic RSI<\/a> moved back into oversold territory.<\/p>\n\n\n\n

There is also a possible inverse head-and-shoulders<\/a> forming here, with the neckline around 85.95\u201387.84<\/strong>.<\/p>\n\n\n\n

If the 50-EMA<\/a> band continues to act as support, and WTI can properly break through that neckline, the measured move points towards roughly the $100 area<\/strong>.<\/p>\n\n\n\n

That\u2019s what I\u2019ll be watching over the next few days.<\/p>\n\n\n\n