Strait of Hormuz Closure Continues Amid Conflict; Iran and Oman Agree to Interim Shipping Route

The Strait of Hormuz remains largely closed six months into the US-Israel-Iran conflict, causing a 95% drop in traffic and severely disrupting 80% of global maritime trade. This prolonged closure significantly impacts energy and commodity markets due to the strait's vital role. Iran and Oman have agreed to a temporary shipping corridor, with Iran preparing conditions for a full reopening following mediator requests, potentially offering a limited easing of trade restrictions.