Strait of Hormuz shipping nearly halts as Pakistan talks with Iran

Shipping through the Strait of Hormuz nearly halted yesterday, with only two cargo vessels transiting, the lowest count since early May, according to Reuters data from Kpler. The daily average over the past ten days was fourteen ships, down from seven on Sunday; the two vessels were a large gas tanker and an oil tanker, though some ships may disable tracking systems. Iran has blacklisted 45 tankers for alleged rule violations and threatens action against ships transferring goods to or from them. Before the regional conflict, about a fifth of global oil and gas passed through the strait, and uncertainty over energy supplies has grown. Iran announced retaliation for new US sanctions, which could hit China, its main oil buyer, while Pakistan reported "significant progress" in talks with Iran on reopening the strait.