On the average days, there should be 60 ships passing the Strait every day, but now it is only about 16.7% of normal.
142 days closed, 490 ships waiting, oil climbing
The Strait of Hormuz has been closed for 142 days at the time of writing. On a normal day, 60 ships pass through. Right now, only about 10 ships a day are getting through - roughly 16.7% of normal traffic. That is not a rumor from a news anchor. That is the live tracker number. And 490 ships are still waiting inside the strait.
The Hormuz Strait is the narrow waterway through which roughly 20% of the world's traded oil must pass. When it slows, oil supply tightens - and the market notices. WTI crude is now at $82.36, curving upward to fill a gap left on June 12. Brent Oil sits at $88.28. US Secretary of State Marco Rubio has called on other countries to increase pressure to safeguard global shipping. That tells you the situation is not yet resolved.