00:00Traffic through the Strait of Hormuz seems to be at a standstill after the US moved to
00:04block vessels entering or leaving Iranian ports. Only four vessels passed through on
00:10April 13th, compared to 14 on Sunday and 14 on Saturday. Ships that were already moving
00:17slowly through the waterway have begun reversing course.
00:20Marine traffic reported that two tankers turned away from the Strait of Hormuz after the US
00:25blockade began. Others are now idling in place. The standstill comes after failed peace talks
00:31between the US and Iran over the weekend, which ended on Sunday without a deal after more than
00:3720 hours of negotiations. Global energy markets are already reacting. About 20% of the world's
00:43oil and liquefied natural gas passes through this narrow stretch of water. Oil prices have surged,
00:49with Brent crude rising above $100 a barrel. Meanwhile, stocks fell as investors braced
00:56for more volatility. Some analysts say further disruptions could trigger a much bigger supply
01:01shock. For now, observers are waiting to see if traffic resumes or tensions continue to escalate.
01:07Read more at Business Insider.
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