Strait of Hormuz shipping nearly halts as Pakistan and Iran talk

Shipping through the Strait of Hormuz nearly halted, with only two cargo vessels transiting yesterday, the lowest count since early May. This sharp decline follows regional conflict disrupting a key energy route. Data from ship tracking firm Kpler shows the ten-day average at fourteen ships daily, down from seven on Sunday. The two vessels were a large gas tanker and oil tanker, though actual numbers may be higher as some ships disable tracking systems. Iran has blacklisted 45 tankers for alleged rule violations and threatens action against ships transferring cargo to or from them. Before the conflict, about one-fifth of global oil and gas passed through the strait, heightening energy supply uncertainty. Iran also announced retaliation for new US sanctions, while Pakistan reported "significant progress" in talks with Iran on reopening the strait.