Strait of Hormuz Oil Traffic Plunges 90% Amid Iran-US-Israel Conflict

• Oil tanker movements through the Strait of Hormuz have dropped by 90% due to US-Israeli military operations against Iran, according to Kpler.
• The Strait, a critical chokepoint for a fifth of global crude, still sees some vessels attempting passage despite risks and AIS blackouts.
• The disruption has led to a surge in oil prices, with analysts warning of higher crude prices and volatility for energy-dependent economies.
• Major shipping companies like Maersk, Hapag-Lloyd, CMA CGM, and MSC have suspended operations, leaving thousands of vessels idle.
• Iran has warned ships against entering the waterway, signaling enforcement against vessels attempting transit.