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Drop in Strait of Hormuz traffic
Maritime traffic through the Strait of Hormuz slowed at the beginning of the week following attacks on oil tankers, with only five ships passing through on Saturday and a complete halt on Sunday, compared to 31 ships the previous week. The UAE announced that an Adnoc-owned vessel was attacked last Thursday, with no injuries reported, and confirmed that the situation is under control. The shipping movement declined as a result of the attacks and because negotiations between the United States and Iran to resolve regional tensions have stalled.
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