US report uncovers control of Hormuz
An American report reveals that Iran's control over the Strait of Hormuz has increased significantly, with the volume of oil tankers passing through the strait dropping from around 130 to 26 ships per day, amid risks of attacks and rising insurance costs. This has led to an increase in voyage costs by $3-10 million per trip, forcing carriers to turn off their transmitters or seek permission from the Iranian Revolutionary Guard to pass. This escalation poses a threat to the stability of the global energy market, which has lost over 2.6 billion barrels of oil since the escalation of the conflict in February, according to estimates by Saudi Aramco.
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