The number of ships that have transited the Strait of Hormuz dropped to a week-low on Tuesday, according to shipping data, as vessel owners continue to avoid the key chokepoint in the Middle East. Only eight vessels moved in either direction at the Strait of Hormuz on Tuesday, the lowest number since August 5, and below the latest 10-day average of 12, per Kpler data cited by Reuters on Wednesday. Traffic at the waterway, where some 20 million barrels of oil were flowing before the war, has continuously declined this week amid heightened security…

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