Oil steady as US-Iran talks stall, Hormuz shipping slows

Shipping traffic through the Strait of Hormuz has plummeted following tanker attacks, with only five vessels transiting. This decline occurs as US-Iran peace talks stall, heightening oil supply concerns. While oil prices remain steady, the situation underscores significant geopolitical tensions that could potentially destabilize global energy markets and trade dynamics. Data shows a clear slowdown in transit, reflecting the impact of these attacks and the current diplomatic deadlock between the US and Iran.