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Shipping through Strait of Hormuz stalls amid Iran's closure amid US-Iran talks in Switzerland

Market News
22 Jun 2026
CNBC
View Source
Bearish
pluang ai news

Shipping traffic through the Strait of Hormuz, a critical oil route, stalled over the weekend after Iran announced it had closed the strait again, citing ceasefire violations linked to Israel's strikes in Lebanon. Despite Iran's claims, commercial vessels continued to transit the waterway, with some ships disabling tracking systems. The closure disrupts a vital passage that handles about 20% of the world's oil traffic and follows a brief recovery after a recent US-Iran memorandum of understanding aimed at reopening the strait toll-free for 60 days. Meanwhile, US and Iranian officials met in Switzerland to negotiate a final deal to end hostilities, including in Lebanon, with progress reported but tensions remaining high.

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