Hormuz chokepoint quiets as Iran closes waterway, shipping slows to a trickle

Traffic through the Strait of Hormuz has fallen sharply after Iran effectively blocked the waterway, with monitors reporting only about 55 ships crossing on Saturday, far below the prewar average of around 130. On Monday four Qatari tankers crossed via the Iranian route for the first time since the conflict began, and the Summit Success entered the Gulf, while some ships are reportedly traveling with AIS off, raising mine-clearance concerns (analysts say up to 80 mines could still be submerged). Oil prices fell about 2% on news of tentative peace talks in Switzerland aimed at reopening safe passage, as tensions persist and Trump warned Tehran over the closure.