business π’ Hormuz shipping slows amid US-Iran tension
Vessel traffic through the Strait of Hormuz has significantly dropped this week due to uncertainty surrounding US-Iran talks. Between Monday and Thursday, only 33 vessels passed through, down from 50 during the same period last week. This decline follows Houthi claims of hitting a Saudi oil tanker in the Red Sea earlier this week. Iranian proposals suggest a much stricter regime, including potential bans on US and Israeli ships. Analysts warn that growing distrust could lead to worsening security situations in the Gulf and Red Sea. π’