2 ships cross Strait of Hormuz
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Cargo vessels and tanker transits through the Strait of Hormuz saw a minimal rise last week, despite Defense Secretary Pete Hegseth’s denial the waterway is facing a blockage. Shipping analysis Lloyd’s List reported Monday that recent transits still represent less than 10 percent of the average traffic.
Attacks on ships are escalating in the Arabian Gulf as Israel and Iran both launched fresh waves of intense strikes overnight.
Iran says Americans will be hit with higher fuel prices due to the blockade. Plus, summers are growing longer globally
Wall Street’s stock benchmark S&P 500 and tech-heavy Nasdaq closed at record highs as hopes for a cooling of U.S.-Iran tensions and strong earnings expectations boosted risk appetite on Wednesday, while oil prices steadied after news Iran could make allowances for ships around the Strait of Hormuz.