Hormuz Strait Shipping Decline
Maritime traffic through the Strait of Hormuz has sharply declined as a result of attacks on oil tankers and ongoing tensions between the United States and Iran. The number of ships passing through decreased from 31 at the beginning of the week to only 5 by the end of the week, amidst continued security concerns and an unclear outlook for the future. Iran has set conditions for resuming shipping activity, while the United States announced that it might persist with the maritime blockade against Iran, adding uncertainty about returning to previous levels of traffic, which exceeded 130 ships daily before tensions escalated. This decline significantly impacts energy markets and global oil prices.
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