The Strait of Hormuz remains highly volatile following new projectile attacks on commercial vessels that killed at least one sailor. While official shipping traffic has plummeted from 130 to just 12 vessels per day, Middle Eastern producers are secretly shipping over 4 million barrels of oil daily using 'dark' tankers. This covert flow has kept Brent crude prices stable between $80 and $90 a barrel. Meanwhile, President Trump has ruled out extending the ceasefire, denied active talks with Iran, and declared the strait a U.S. territory.
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