Navigation slows in Strait of Hormuz amidst US warnings
Maritime traffic through the Strait of Hormuz has deteriorated to unprecedented levels following an attack that targeted two ADNOC-affiliated ships as they were passing through the strait. The UAE holds Iran responsible, but Tehran has yet to respond immediately. The number of ships transiting the strait has significantly decreased, reaching nine ships on Thursday—below the previous monthly average. The strait is one of the world’s most important oil routes, with approximately one-fifth of global oil supplies passing through it before the crisis escalation. These tensions have led to a notable rise in oil prices, with Brent crude reaching around $87 per barrel. Washington affirms its ability to impose a naval blockade on Iran indefinitely, while Tehran refuses to open the strait until sanctions are lifted. The crisis is linked to fears of a global energy supply disruption, raising concerns over broad economic impacts.
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