Strait of Hormuz transits drop as US and Iran escalate attacks across Gulf

Commodity vessel transits through the Strait of Hormuz significantly dropped on Thursday, with only three crossings recorded, the fewest since May. This reduction follows recent Iranian attacks on vessels and the resumption of a US blockade on Iran-related shipping, causing most ships to halt or make U-turns. The re-escalation between the US and Iran has largely stopped traffic through this crucial oil and gas shipping route, driving up global energy prices. Iran's Islamic Revolutionary Guard Corps stated that "no oil or gas would be exported through the Strait of Hormuz as long as US attacks continued." Additionally, Iran has threatened to close the Bab al-Mandeb strait via Houthi allies if its infrastructure is attacked. Iraq briefly suspended oil loadings after a drone hit its Basra terminal but later resumed operations.