Hormuz Traffic Stays Below 10-Day Average as Tanker War Grinds On

🚢 HORMUZ — The strait isn't closed, but it's bleeding out slowly. 📌 LOOK CLOSER: Below-average traffic without a formal blockade means market pricing stays suppressed — Brent holds under $100 while the physical flow contracts. Insurers are doing the work mines haven't. Each day below average tightens Asian refinery margins and extends the demand destruction compressing oil prices. Washington's leverage window narrows as the slow squeeze normalizes.