[US-Israel, Iran War Day #200] Hormuz Traffic Falls to Four Transits as Regional Attacks Intensify

In Brief…

• Treasury Secretary Scott Bessent said the United States had held “good private discussions” with China over Iranian financial links and pointed to public signals from the UAE that it was moving to restrict Tehran’s access to financing.
• Oil loadings have been suspended at Yanbu, Saudi Arabia’s main Red Sea oil export port, following an earlier attack on the kingdom’s east-west pipeline, Reuters reported on Tuesday, citing shipping sources.
• Oman towed the Panama-flagged oil tanker Elgaia to one of its ports after the vessel caught fire following an earlier attack, the country’s Maritime Security Center said Tuesday.
• US prosecutors moved to seize about $61 million in cryptocurrency allegedly linked to black-market Iranian oil sales and financing for the Iranian government and military.
• A US Defense Department inspector general report said the Iran war created strategic munitions shortfalls, cost about $33.4 billion through late June and saw Iranian strikes damage or destroy hundreds of structures at US bases across the region.
• Commodity vessel transits through the Strait of Hormuz fell to four on Monday from 10 on Sunday, according to Kpler data, even as TankerTrackers said two-way daytime VLCC traffic was continuing.

This is a developing story that HO1 will continue to monitor.
Check back for updates.

[UPDATE] Vance says Iran war will enter ‘much different phase’ after midterms