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    Traffic through the Strait of Hormuz has practically come to a halt: the chart above shows activity over the past 24 hours

    It clearly indicates that very few vessels are willing to pass through the strait, and those that do manage to transit are doing so with their transponders switched off to avoid revealing the ship’s location.


    It is worth reiterating that a significant share of crude oil and petroleum products shipments from Middle Eastern countries passes through this strait. As a result, any reduction in shipping activity in this area immediately affects the global energy market.

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