While Saudi Arabia and others move goods overland, hundreds of truckers are trapped at Iran’s land borders, threatening its economy.

The comments from a US CENTCOM spokesperson come amid continued tensions over shipping through the vital waterway.

US-Iran tensions rise as CENTCOM cites 900 million barrels moved through Hormuz, while a $2.8bn US weapons package for Israel draws attention.

The Strait of Hormuz doesn't have the pull it did a few months ago. Global interest in the waterway, as measured by the number of Google searches, peaked in April, when oil flows through the waterway were at a trickle and everybody wanted to know why oil prices were suddenly above $100 a barrel.

J.D. Vance, his vice-president, says Iran’s control of Hormuz is “effectively gone”. “A big lie,” counters Mohsen Rezaei, Iran’s top security official. He puts daily crossings at seven or eight ships,

A US-contracted vessel carrying American personnel was reportedly hit by four Iranian drones and at least one missile near the Strait of Hormuz, leaving several crew members with minor injuries.

The disruption has pushed Asian spot LNG prices to their highest level since 2022, with the potential for further gains as winter approaches.

Ship traffic through the Strait of Hormuz remains severely depressed as escalating regional conflict complicates Saudi Arabia’s efforts to maintain crude exports.