Trump orders a blockade in Strait of Hormuz
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Shipping through the Strait of Hormuz remains severely constrained despite a cease-fire, with high tolls, insurance costs, and lingering security risks keeping global energy supplies tight.
A flood of oil tankers and other vessels were supposed to cross during the cease-fire, but ships have moved at a crawl.
A trickle of ships are crossing the Strait of Hormuz along a route hugging the Iranian coastline as the war enters a second month. Only four vessels have been visible leaving the Persian Gulf over the past day.
Ship traffic through the Strait of Hormuz stood at well below 10% of normal volumes on Thursday despite a U.S.-Iran ceasefire as Tehran asserted its control by warning ships to keep to its territorial waters while doing so.
The tracking systems merchant vessels rely on to navigate their routes are the same ones Houthi groups use to target them. But turning off the systems isn't a simple solution. “The vast bulk of the global economy relies on shipping to get its ...
A Suezmax oil tanker hauling about 1 million barrels of Iraqi crude exited the Persian Gulf via a northerly route through Iranian waters on Sunday morning, according to vessel-tracking data compiled by Bloomberg.