Hormuz Shipments Drop 98% as Iran Blocks Strait and Oil Prices Surge

Strait of Hormuz traffic collapses to two vessels daily amid US-Iran standoff, driving Brent up 6% and US gas to $4.08/gallon.

Woofun AI data shows that vessel traffic through the Strait of Hormuz has plummeted from a pre-conflict average of over 130 ships per day to just two on Friday, with zero crude oil shipments recorded. Iranian Deputy Foreign Minister Gharib Abadi stated that Tehran will maintain shipping restrictions until the United States accepts the 'reality of failure' and ceases pressure, while President Pezeshkian noted that sanctions have heightened domestic inflationary pressures.

U.S. President Trump asserted that citizens must accept 'slightly higher' oil prices to curb Iran's nuclear program, coinciding with AAA data showing U.S. gasoline averaging $4.08 per gallon, a 29% year-over-year increase. International benchmarks followed suit, with Brent futures rising approximately 6% and WTI futures gaining 5.4% this week. U.S. Treasury Secretary Bessent indicated that additional economic measures against Iran will be announced next week, even as Houthi forces launched new attacks in Yemen.