Traffic through the Strait of Hormuz drops 50% as tensions rise

Maritime traffic through the Strait of Hormuz has dropped by 50 percent amid rising tensions between Iran and the United States, Tehran announced.

Iranian officials said the decline reflects shipowners’ reluctance to transit the strategic waterway as military posturing intensifies in the region.

The Strait of Hormuz is one of the world’s most important chokepoints for global energy supplies, with around a fifth of the world’s oil consumption passing through it.

Analysts warn that a prolonged disruption could push oil prices sharply higher and rattle global markets.

Source: 24-ore.com