Hormuz Blockade & Shipping Crisis

Gulf shipping traffic has collapsed: 70 ships trapped in the Persian Gulf, only 4% of normal transit through Hormuz. ADNOC confirms 15 vessels attacked, 3 this week, with 1 fatality and 20 injured. Houthi and Iranian threats continue to disrupt energy chokepoints, with economic warfare driving up US gas prices and shifting China's oil sourcing.