US report reveals Hormuz's controlling entity
American reports reveal that the movement of oil tankers and commercial ships through the Strait of Hormuz has significantly decreased from over 130 to 26 ships daily, amid risks of attacks and rising insurance costs. Data shows that Iran has managed to assert control over the strait without direct confrontation with the U.S. Navy, leading to an increase in insurance premiums for each voyage, ranging from $3 million to $10 million. Additionally, oil carriers have been forced to turn off their transmitters or seek permission from the Iranian Revolutionary Guard. This collapse in navigation activity threatens the stability of the global energy market, which has lost more than 2.6 billion barrels of oil since the escalation of the conflict in February, due to the challenges posed by the Iranian escalation.
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