The United States has launched its fifth consecutive day of military strikes against Iran, deepening the conflict in the Middle East.
The offensive comes as maritime traffic through the strategic Strait of Hormuz has fallen by half, signaling a severe disruption to global shipping lanes.
The collapse in vessel throughput underscores the tangible impact of the hostilities on energy logistics.
With the strait serving as a critical chokepoint for global oil and gas exports, the reduction in shipping activity is likely to sustain upward pressure on energy prices and freight rates.
Markets are pricing in continued volatility as the risk of further supply constraints remains elevated.
This escalation marks a significant deterioration in relations between Washington and Tehran, following a week of mutual accusations regarding breaches of the June 17 ceasefire agreement.