Iran Blocks Strait of Hormuz, Tanker Traffic Hits Two-Month Low as Oil Prices Surge

Iran has effectively closed the Strait of Hormuz after US-Israeli strikes, slowing tanker traffic through the critical energy chokepoint to a two-month low as of mid-July 2026. Roughly one-fifth of global oil transits the strait. Iran's military called it an "unbreakable red line." The IRGC warned of additional closures. CENTCOM has conducted four strike waves on Iranian military targets since early July.