Maritime traffic through the Strait of Hormuz remains severely reduced, with only a small number of vessels transiting daily compared to pre-conflict levels of over 130 ships per day. Recent incidents including vessel seizures, gunfire, and ongoing military presence indicate continued instability despite ceasefire announcements.
Forward Relevance: Sustained disruption to a critical global energy transit corridor between the Middle East and international markets, with exposure across fuel supply chains, shipping costs, and energy price stability.