Hormuz chokepoint slows to a crawl as US-Iran clashes persist
Traffic through the Strait of Hormuz has slowed dramatically amid renewed US-Iran fighting, with no large vessels crossing the Southern Highway since July 7 and overall transits collapsing from typical levels. Brent crude remained near $76.6 a barrel as markets brace for ongoing supply disruption and potential further price pressures, while analysts warn sustained hostilities could push prices higher and disrupt refined products as inventories tighten; regional markets also edged higher on risk sentiment.