Hormuz Strait sees reduced ship activity

Shipping activity through the Strait of Hormuz has been halted for the second consecutive day, as navigation data shows a sharp decline in the number of passing ships, with operations dropping to their lowest level in three weeks. This comes amid escalating tensions between the United States and Iran, following Iranian attacks on vessels and the resumption of the US maritime blockade related to Iran, which has led to a concentration of maritime traffic along more dangerous routes and increased security and insurance risks. The escalation of military actions, including American strikes on Iranian targets, further destabilizes the region and threatens the world's most vital oil passage, resulting in a rise in global energy prices.

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