Strait of Hormuz sees 7 vessels, crude crossing down 27%
World
The Strait of Hormuz, a major route for the world's oil, just saw its lowest ship traffic in months, with only seven vessels passing through on October 6.
That's a 27% drop in crude crossing the strait from a wartime high the week before, as tensions between the US Israel, and Iran heat up.
Oil movement is now just about 74% of its pre-war level.
Exports rerouted but security concerns rise
Even though fewer ships are using the strait, oil exports haven't crashed. Instead, more oil is being shipped out from other nearby routes like the Gulf of Oman and the Red Sea, those have more than doubled since before the conflict.
Still, security worries remain high: attacks near Qatar and rising maritime incidents show that things are far from calm in the region.