Strait of Hormuz Navigation and Trade Halted
Hyperdash NewsCommoditiesNavigation and trade movement in the Strait of Hormuz has come to a sharp halt, according to Mehr News Agency, citing a source. This development could disrupt global oil supplies. The Strait is a critical chokepoint for oil shipments, and any disruption typically leads to higher crude prices.
Iran's Deputy Foreign Minister Kazem Gharibabadi previously stated the waterway remains closed. Ship traffic through Hormuz has been near three-month lows, with vessel transits at a five-day average of about 13 on August 13, down from a pre-war daily average of 130 ships. 
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