1 Day
Source:
RT Arabic
WSJ: Hormuz Strait navigation down to 20 percent
The article discusses a significant decline in shipping activity through the Strait of Hormuz, which has decreased from over 130 ships per day before the war to about 26 ships currently, due to the risks of attacks and rising insurance costs. Data shows that Iran has succeeded in asserting control over the strait without direct clashes with the U.S. Navy, leading to insurance expenses rising between 3 to 10 million dollars per voyage. This has negatively impacted the stability of the global oil market, which has lost more than 2.6 billion barrels since the escalation of the conflict in February. On the other hand, the U.S. Energy Secretary indicated that oil supplies have increased to 15 million barrels per day, thanks to modern infrastructure, amid statements from Trump claiming that U.S. forces control the strait, even as Iran and Oman reached a tentative agreement to reopen it fully for navigation in the coming days.
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