Traffic in Strait of Hormuz skyrockets nearly 400%, as analysts say Iran’s grip on critical waterway weakens

Iran appears to be losing its grip on the Strait of Hormuz while traffic through the critical waterway has exploded by nearly 400% over the last two weeks — as ships increasingly use a US-backed corridor to cross. Nearly 200 ships navigated the strait last week, up from 150 the previous week and just 40 two weeks earlier, according to data from the UK Maritime Trade Operations Center. The surge brings total traffic along the passage route to about 20% of pre-war levels, through which roughly 20% of the world’s seaborne oil flowed in peacetime. Activity in Hormuz ground to...