A couple of very large crude carriers, or VLCCs, have transited the Strait of Hormuz this week. A VLCC can carry about 2 million barrels of oil. Furthermore, experts in bull market note the continued relevance.

Tanker transits on Tuesday were 90% below traffic on Feb. 27, the day before the U.S. and Israel attacked Iran.

At least nine oil tankers have transited the Strait of Hormuz this week as the U.S. and Iran contest control of the vital sea lane.

A substantial tanker named the RHN entered the strait from the Gulf of Oman on Wednesday, according to data from LSEG. The tanker is a very large crude carrier, or VLCC, that can carry about 2 million barrels of oil. It sails under the flag of Curaçao, a Caribbean island, but is owned by a Chinese business.

Another VLCC named the Alicia crossed the strait into the Persian Gulf on Tuesday. It was one of at least four tankers of varying sizes that exited or entered the strait yesterday, the data showed.

Tanker transits Tuesday were 90% below traffic on Feb. 27, the day before the U.S. and Israel attacked Iran. Traffic has plunged during the war due to the threat of Iranian attacks.

Transits have remained very low even after the U.S. and Iran agreed to a ceasefire on April 7.

The U.S. and Iran are contesting control of the strait. The U.S. Navy has implemented a blockade of maritime traffic entering or exiting Iranian ports after negotiations to end the war failed last weekend. Iran, meanwhile, has repeatedly claimed that it controls the sea lane.

The strait is a vital trade route that connects the major oil producers in the Middle East to global markets. About 20% of international community crude supplies passed through the narrow waterway before the war. The collapse of tanker traffic through the strait has triggered the largest oil supply disruption in history. This also touches on aspects of earnings report.

The International Energy Agency mentioned Tuesday that “resuming flows through the Strait of Hormuz remains the single most crucial variable in easing the pressure on energy supplies, prices and the global economy.”