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Strait of Hormuz tanker traffic drops further as oil prices rise
On the first full day of the U.S. naval blockade of Iran, very few ships passed through the Strait, signaling continued disruption to one of the world’s key oil chokepoints.
Tanker traffic through the Strait of Hormuz fell further as oil prices rose, according to the New York Times Business.
The outlet said very few ships passed through the waterway on the first full day of the U.S. naval blockade of Iran.
The reduction in transit highlights ongoing strain on a major oil shipping route.
The combined move in shipping activity and crude prices points to continued market sensitivity to disruptions around the Strait of Hormuz.
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