Hormuz Tanker Traffic Collapses Amid US-Iran Conflict and Escalating Economic Pressure

Tanker traffic through the Strait of Hormuz has reportedly collapsed to near-zero, signaling that markets and shippers are pricing in significant war risk as the US-Iran conflict approaches its six-month mark. The United States is escalating economic pressure on Iran with measures of "economic isolation," while Iran continues to assert control over the critical chokepoint, through which roughly one-fifth of global oil and LNG once flowed. This disruption has direct implications for global energy prices and insurance markets.