The Strait of Hormuz, a vital artery for global oil and gas shipments, saw a dramatic drop in maritime traffic after Iran announced its closure in protest of Israeli military actions in Lebanon. On Sunday, only 12 vessels transited the strait, down from 35 the previous day, according to maritime intelligence firm Windward. Five of the eight ships entering the strait had disabled their Automatic Identification Systems (AIS), likely to avoid detection by Iranian forces. Iran’s Islamic Revolutionary Guard Corps declared the waterway closed, citing Israeli 'crimes' in Lebanon and the collapse of ceasefire efforts. The move threatens a fragile peace framework negotiated between US and Iranian leaders just days earlier.

US Central Command (CENTCOM) contradicted Iran’s claim, stating that 55 merchant ships passed through the strait on Saturday and that safe passage remains intact. Experts suggest the discrepancy may stem from the US counting both visible and untracked vessels, while commercial data relies on AIS signals. Analysts note that many ships may be using the Omani coastal lane and turning off transponders to reduce risk.

Meanwhile, US and Iranian negotiators held critical talks in Switzerland aimed at salvaging a permanent peace deal. Iranian officials confirmed discussions on safe passage through the strait and the establishment of a monitoring mechanism. Despite rising regional tensions, global oil prices dipped slightly, with Brent crude falling below $80 a barrel, while Asian stock markets showed mixed reactions.