Hormuz traffic slows to near standstill as US vows more Iran pressure
Ship transits through the Strait of Hormuz have dropped sharply after fresh attacks, while the US pledges new economic pressure on Iran.
Traffic through the Strait of Hormuz has slowed dramatically, with only two vessels recorded passing through on Friday, according to ship tracking data. The decline follows fresh attacks on two vessels in the waterway and renewed US threats of economic pressure against Iran.
The UAE's Abu Dhabi National Oil Company said two of its ships were attacked while transiting the strait on Thursday evening. The UAE government blamed Iran, which has not yet commented on the incident.
Ship tracking firm Kpler reported that Friday's transits included a grain ship entering Iranian waters and an empty dry bulk carrier heading in the opposite direction. A third vessel, an empty liquefied petroleum gas tanker, was seen sailing into the Gulf. No crude oil shipments were visible on Friday.
For context, nine ships passed through the strait on Thursday, up from five on Wednesday but well below the August average of 12. Before the war began in February, more than 130 vessels traversed the strait daily.
Analysts say Iran's ability to restrict shipping through Hormuz gives it significant leverage in negotiations. "Alongside the threat to energy infrastructure in the region, Iran's ability to restrict shipping through the strait is its main source of leverage in negotiations," said Torbjorn Solvedt, principal Middle East analyst at Verisk Maplecroft.
Meanwhile, US Defense Secretary Pete Hegseth said the US Navy could maintain its naval blockade of Iran indefinitely by rotating ships in and out of the region. Treasury Secretary Scott Bessent promised new financial measures against Tehran, saying "watch this space for more announcements coming next week" and describing the planned actions as unprecedented in the history of economic isolation.
Iran has approved a plan for the strait that includes banning transit by US, Israeli, and other "hostile" countries' assets and equipment, according to the semi-official Tasnim news agency. Tehran has said it will not allow the waterway to reopen until economic sanctions are removed and frozen assets released.
Oil prices remained relatively stable, with Brent crude around $87 a barrel and US West Texas Intermediate near $81. India's reliance on Russian crude reached a record high in July, while Asian refineries have been buying US crude to secure future supplies.
Reports that Yemen's Iran-backed Houthis targeted a Saudi Aramco refinery with drones on Thursday have added to concerns about a widening regional conflict. Economists warn that continued disruption could sharply reduce global growth and potentially push some regions into recession.