Hormuz shipping rises slightly but stays far below pre-war levels

Preliminary data show a limited rise in commercial shipping through the Strait of Hormuz on Wednesday, still far below levels before the war with Iran.

• Ten cargo ships crossed the Strait of Hormuz on Wednesday, up from seven the previous day but below the 10-day average of about 17.
• Before the war began on February 28, roughly 125 large commercial ships transited Hormuz daily, through which about 20 percent of global oil and LNG supplies passed.
• A senior Iranian official said the two sides' positions remain far apart while stressing the diplomatic path must continue.
• Iran has placed lifting the US naval blockade on its ports and reopening the strait among priorities in its proposals to end the war.