world π’ Hormuz Strait traffic drops amidst US-Iran standoff
Shipping traffic through the Strait of Hormuz dropped significantly to just six vessels on Monday. This decrease was observed as part of the ongoing deadlock between the US and Iran. Previously, about 130 to 140 ships typically used the strait during non-conflict times. US President Donald Trump recently responded to Iranβs peace deal demands by outlining his own compensation requirements. The situation remains tense as negotiations continue with fluctuating prospects for a resolution. π’