Shipping traffic through the Strait of Hormuz has significantly declined, reaching a near three-month low as uncertainty looms over a potential deal between the US and Iran. Recent US threats of increased economic pressure on Iran have led tankers to adopt darker operational tactics to navigate oil shipments from the Middle East. As fears mount regarding the stability of oil supply through this critical chokepoint, oil prices have experienced fluctuations, touching near $90 a barrel. The ongoing stalemate in US-Iran negotiations has raised concerns about the future of crude shipments and market stability, with some analysts suggesting that the situation has strained US naval forces in the region. As the world watches with bated breath, the trajectory of oil prices remains under pressure amidst competing claims from both nations.