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Ship Hit as Hormuz Traffic Nearly Stops
A container ship was struck off Oman on March 3rd. The ship was in the Strait of Hormuz.
Drone attacks nearly stopped traffic through the strait. The strait is vital for global oil shipments.
Iran's Revolutionary Guards claim to control the strait. Trump offered US naval escorts for ships. But insurance costs rose sharply despite his offer.
Klear Note — The Strait of Hormuz is a narrow waterway between Iran and Oman. About one-third of world's oil passes through it daily. Attacks there disrupt global energy supplies and raise shipping costs.