Reuters: Maritime Traffic Drops in Strait of Hormuz
Maritime traffic through the Strait of Hormuz has sharply declined following attacks on oil tankers, as no ships crossed yesterday (Sunday) compared to 31 vessels at the start of the week. Meanwhile, talks between the United States and Iran regarding regional stability have faltered. The limited activity is considered a threat to global oil shipping safety, with marine insurance costs rising to 10%, and diplomatic efforts underway to establish an international coalition to protect the strait. These developments come amid positive signals in negotiations concerning vessel passage arrangements.
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