Hormuz Vessel Transits Drop to Seven, New Low Since Conflict Began

🚢 HORMUZ — Seven ships: the number that resets every energy model. 📌 LOOK CLOSER: Ten daily transits was already crisis-level; seven is functional shutdown. With the Khasab bypass struck, the E/W pipeline down, and war risk premiums making insurance unwritable, carriers aren't being blocked — they're self-excluding. Iran doesn't need to fire another shot. European and Asian import terminals now price a structural gap, not a temporary spike.