Ship traffic through Hormuz falls as U.S. and Iran fight for control
Ship traffic through the Strait of Hormuz has dropped by 60% amid escalating tensions and military conflict between the U.S. and Iran. The U.S. is attempting to maintain oil flow while imposing new naval restrictions.
Why it matters
Disruptions in the Strait of Hormuz pose a major risk to global energy security and oil prices.
More than 8 million barrels of oil transited the Strait of Hormuz on Sunday with U.S. military assistance amid the renewed fighting with Iran, the U.S. Energy Department told CNBC in a statement.
The article reports on military and economic data from both U.S. and trade intelligence sources, maintaining a neutral reporting style.
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