Oil tanker traffic through the Strait of Hormuz was at a near standstill on Thursday, according to data and sources, as shipping risks escalated after the U.S. renewed airstrikes on Iran, triggering retaliation by Tehran in the Gulf.
The heightened tensions have severely impacted maritime operations in the region, with many vessels opting to reroute or delay their passage through the critical waterway. The Strait of Hormuz is a vital chokepoint for global oil trade, with over 20% of the world's seaborne oil passing through it.