US claims Hormuz traffic improving as oil prices surge amid regional attacks

President Trump and U.S. Energy Secretary Chris Wright assert that oil shipments through the Strait of Hormuz are recovering to about two-thirds of pre-war levels, despite a diplomatic stalemate with Iran. Tehran counters that it controls access and has warned ships against unauthorized routes. Preliminary tracking data indicates only single-digit vessel movements per day, well under the pre-war average of more than 100 ships.

Meanwhile, an Iranian-linked ship was struck and Saudi Arabia’s east-west pipeline suffered a drone attack, prompting a rise in Brent and WTI crude prices. Additional missile and drone strikes by Yemen’s Houthi group on Saudi cities have heightened market anxiety. Analysts say continued disruptions and rising war-risk insurance premiums will keep oil markets under pressure.