- The majority of shipping traffic through the Strait of Hormuz, a vital route for one-fifth of the world's crude oil, has been suspended since early March following the outbreak of war with Iran.
- Despite the widespread halt, Iran has managed to export over 16 million barrels of oil since March, with China being the primary buyer due to Western sanctions.
- About 90 vessels, including 16 oil tankers, traversed the strait between March 1-15, a substantial reduction from pre-war levels, with many being "dark" transits likely linked to Iran.
- India and Pakistan-flagged vessels have successfully navigated the strait after diplomatic interventions with Iran, and Iraq is also in discussions to secure passage for its oil tankers.
- Oil prices have surged over 40 per cent to above $100 a barrel; President Donald Trump urged allies to reopen the strait, while the US Treasury Secretary confirmed Iranian tankers are being allowed through to supply global markets.
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