Shipping stalls in Strait of Hormuz after Iran says waterway is closed

Key Points:

• Shipping through the Strait of Hormuz experienced a slowdown over the weekend after Iran announced it had closed the vital oil passage, though maritime data showed some tankers continued transiting the waterway.
• Traffic analysis indicated a decline in ship movements, with a notable number of vessels disabling their tracking systems, suggesting attempts to obscure their locations amid heightened tensions.
• Despite Iran's closure claim, commercial shipping persisted, and the U.S. military stated the strait remained open, emphasizing that Iran does not control the passage.
• The U.S. and Iran held talks in Switzerland following a memorandum of understanding aimed at reopening the strait toll-free for 60 days and ending hostilities, including in Lebanon, with progress reported despite tense negotiations.
• U.S. Vice President JD Vance expressed optimism about the talks' outcome, while President Trump issued warnings against Iranian-backed proxies in Lebanon, underscoring ongoing regional volatility.