Shipping through the Strait of Hormuz, a vital corridor for global oil and gas supplies, is severely disrupted, with current traffic at less than 10% of normal levels. The situation stems from heightened security concerns and Iran's increasing control over the waterway, which has led to only seven ships passing through in the last 24 hours compared to an average of 140. Major shipping companies, including Hapag-Lloyd, have opted to keep their vessels stationary to prioritize safety, despite a fragile ceasefire in the region. Experts suggest it may take up to six months to return to pre-conflict traffic levels, indicating a prolonged economic impact on global energy costs. Additionally, Iran has proposed a transit toll of up to $2 million per vessel, which the UN's International Maritime Organization warns could establish a dangerous precedent for international shipping. With hundreds of vessels stranded in the Persian Gulf, the ongoing uncertainty poses significant risks for global oil supply, which has already been reduced by about 20% since the conflict began.