Hormuz Traffic Falls as Iran and Oman Explore a Temporary Corridor

Traffic through the Strait of Hormuz remains well below recent averages, with only five vessels crossing in either direction as Iran and Oman discuss a temporary navigational corridor and mine-clearing efforts. Since late August, crossings have fallen, about 65% of Hormuz’s exports head to China, and Tehran warned the strait could stay closed unless the U.S. ends the war.