The number of commodity vessels observed to have moved in and out of the Strait of Hormuz remained stubbornly low on Wednesday and below the 10-day moving average as the United States and Iran remain distant on how to end the war. On Wednesday, only ten commodity vessels transited the Strait, including nine inbound and only one outbound—a Supramax laden with fertilizer, according to shipping data compiled by Reuters early on Thursday. That’s below the 10-day moving average of 17 vessels, despite an uptick in the daily transits compared…

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