Escalation of Middle East Tensions Leads to Backlog of Oil Tankers outside Strait of Hormuz

BlockBeats News, March 1st, according to Reuters estimates, dozens of ships are gathered in the waters of Iran, Iraq, Kuwait, and the UAE, located outside the Strait of Hormuz; dozens of other ships are anchored off the coast outside the Strait of Hormuz. At least 150 tankers, including oil and oil product tankers, are anchored in the Gulf of Middle East while crossing the Strait of Hormuz. In addition, at least another 100 tankers are anchored near the coasts of the UAE and Oman outside the Strait of Hormuz. (FX168)