Hormuz Traffic Craters to Four Ships as Iran-U.S. Strikes Escalate
Two sailors have died from Monday’s attack on a Saudi oil tanker in the Strait of Hormuz, with Riyadh now formally accusing Iran of targeting the Bahri-owned Sidr as Tehran launches a new wave of missile and drone strikes against U.S. bases across the region. Bahri confirmed Wednesday that the two F
Source: OilPrice.com
―
DW NOTE
The Strait has been effectively closed since February — this is just the latest data point in a blockade now six months old. Four ships is noise, not news. What matters is that oil is still trading 19% below its 2026 peak despite a 10-million-barrel supply crater, which means someone believes either the mines get cleared or demand breaks first.