Trump Vows Hard Strike as Hormuz Shipping Hits Crisis Lows

Shipping traffic through the Strait of Hormuz has dropped to crisis-era lows following the collapse of an interim ceasefire and renewed clashes between the United States and Iran. Vessel transits fell to 39 between July 20 and 26, down from a pre-war daily average of 140, triggering spikes in global fuel and food prices.

Recent escalations include Iranian missile strikes on U.S. forces and a drone attack on a U.S.-owned gas storage tanker in Damietta, Egypt. In response, Donald Trump vowed to hit Iranian forces hard after the Pentagon reported an attempted surprise attack. The U.S. military, supported by Saudi Arabia, subsequently attacked Tehran-backed militias in Iraq.

Amidst the instability, the United States Central Command reported it has supported the safe passage of 1,000 commercial vessels and 500 million barrels of crude oil since early May. U.S. forces have explicitly rejected demands from the Islamic Revolutionary Guard Corps to use designated navigation routes, asserting the strait is an international waterway. Simultaneously, the U.S. is targeting extortion schemes where IRGC-backed entities manufacture maritime risks to charge commercial vessels for insurance coverage.