Ship crossings through the Strait of Hormuz have dropped to fewer than ten vessels, according to shipping data cited by Reuters. This decline reflects escalating regional tensions amid the broader Iran-US-Israel conflict, stemming from a stalemate in US-Iran negotiations, with Iran maintaining restrictions on the strait’s use. Commercial traffic is opting for alternate routes to avoid potential attacks or disruptions. Market pricing shows decreased confidence in a resolution by September 30, with odds dropping from 6% to 5.5%.
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