The Two-Strait Squeeze

Vessel traffic through the Strait of Hormuz has collapsed to just 4 percent of 2023 levels, while Bab el-Mandeb remains below 40 percent.

Figures represent seven-day average vessel traffic as a percentage of average daily transits between January and September 2023 (100 = normal traffic)
Chart: Newsweek EditorsSource: IMF PortWatch, via Astrostrategy