Strait of Hormuz shipping 'nearly paralysed' with only two vessels passing, tanker reports explosions

Commercial shipping through the Strait of Hormuz has significantly decreased, with only two commodity vessels reportedly passing on Wednesday, a stark reduction from pre-conflict levels. This comes as Iran and Oman are nearing an agreement on a proposed shipping route. Separately, an oil tanker reported hearing two explosions while transiting the Strait of Hormuz near Oman on Thursday.