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The Telegraph

US blockade and Iranian attacks cut Hormuz traffic to about 28 ships a day

AI Market Summary
Attacks and a US blockade have sharply reduced Strait of Hormuz traffic, while VLCC charter rates and war-risk insurance have surged, tightening effective supply and raising transport costs embedded in crude pricing. Iran's exports are effectively halted and floating storage is being drawn down, increasing sensitivity to further disruptions. Broader Red Sea risks (Bab el-Mandeb, pipeline strikes) add to a geopolitical risk premium across global oil markets.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-0.38%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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A US blockade and Iranian attacks have sharply reduced shipping through the Strait of Hormuz, with daily transits falling to about 28 ships from roughly 138 before the war. Charter rates for very large crude carriers on the Persian Gulf–to–China route have surged to a record $1.3m a day. Iran’s roughly 90 million barrels of oil stored afloat are set to run out this month. The rial has slid to 2.5m per dollar and inflation is near 90%.
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Geopolitics

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