Two tankers carrying oil products exited the Strait of Hormuz over the past week, while a liquefied natural gas carrier loaded cargo in the United Arab Emirates, shipping data showed - rare movements as traffic through the chokepoint remains limited.Several tankers have managed to leave the Gulf in the past month, but oil and LNG flows are still severely constrained by the U.S.
On July 31, 2025, President Trump signed an Executive Order (“E.O.”) modifying reciprocal tariffs that became effective on August 7, 2025. Some aspects of the impact are well understood such as increased tariff burden on importers ranging from 10% to over 40%. Still, other aspects of the practical effect and its knock-on effects for shipping are relatively novel.