Hormuz traffic at standstill after Iran reinstates restrictions

Traffic through the Strait of Hormuz has dropped to a near standstill after Iran reversed course and reinstated restrictions, contradicting earlier claims that the vital waterway had reopened. Only a handful of vessels have transited since the restrictions were reinstated, effectively halting most commercial shipping. The renewed blockade has caused oil and gas prices to rebound as global energy markets react to the supply disruption. The situation represents a significant escalation in the ongoing tensions surrounding Iran's control of the strategic chokepoint.