Washington: Commercial shipping through the Gulf has slowed sharply even as diplomatic efforts between the United States and Iran show signs of progress. While officials from both countries continue discussions aimed at restoring safe passage through the Strait of Hormuz, fresh claims by Yemen's Houthi movement of attacks on Saudi oil tankers have raised new concerns about security in one of the world's busiest energy routes.
The Strait of Hormuz is one of the most important waterways for global trade, carrying around one fifth of the world's oil supply. Any disruption to traffic through the narrow passage has an immediate impact on international energy markets and shipping companies. Although recent talks have raised hopes of easing tensions, many shipping operators remain cautious and are waiting for clear signs that the security situation has improved before resuming normal operations.
According to shipping data cited by Reuters, vessel traffic through the Strait of Hormuz and the nearby Bab el Mandeb Strait fell significantly on Wednesday. Normally, more than 130 ships pass through the Strait of Hormuz each day, but only a handful of vessels were reported during the latest monitoring period. Traffic through Bab el Mandeb also dropped well below normal levels as shipping companies delayed journeys because of ongoing security concerns.
The decline came after the Houthi movement claimed responsibility for missile attacks on two Saudi linked oil tankers. One vessel was reportedly targeted near Yanbu on Saudi Arabia's Red Sea coast, while another was said to have been attacked in the Gulf of Aden. Saudi authorities have not confirmed the incidents, and independent verification has not yet been provided. Maritime security agencies are continuing to monitor the situation closely.
The Houthis said the attacks were part of their campaign against Saudi Arabia over the conflict in Yemen. The group has repeatedly targeted ships in the Red Sea and surrounding waters over the past several years, creating major challenges for global shipping and forcing many companies to reroute vessels around Africa instead of using the shorter Middle East route.
Despite the latest security concerns, United States President Donald Trump expressed optimism about ongoing discussions with Iran. Speaking to reporters, Trump said the talks were progressing well and described them as "very good." He indicated that negotiations had continued throughout the week and suggested that an agreement could be reached soon.
The discussions are focused mainly on restoring safe commercial navigation through the Strait of Hormuz after months of military tensions disrupted shipping. Reports indicate that negotiators are working on arrangements covering shipping routes, inspection procedures, communication systems and security measures that would allow commercial vessels to move safely through the waterway.
The Associated Press reported that Oman is playing a central role in the negotiations. The Gulf nation has long served as a trusted mediator between Washington and Tehran and is helping both sides work through technical and diplomatic issues. Officials familiar with the talks say discussions include proposals for coordinated shipping routes, inspection mechanisms and security guarantees designed to reduce the risk of future attacks.
However, important differences remain. Negotiators are still discussing who would oversee inspections, how security responsibilities would be shared and what guarantees would be needed before shipping companies regain confidence in using the route. Officials involved in the talks have cautioned that no final agreement has been reached and that further discussions are expected.
Shipping companies continue to adopt a wait and see approach despite the positive diplomatic signals. Industry experts say insurers and vessel operators are unlikely to restore normal schedules until they see sustained stability in the region. War risk insurance costs also remain high, adding to the reluctance of companies to send ships through the Gulf.
The latest developments highlight the contrast between diplomatic progress and continuing military threats. While the United States and Iran appear to be moving closer to an agreement that could reopen one of the world's most important maritime corridors, attacks claimed by the Houthis demonstrate that the wider regional security situation remains fragile.
Energy markets are watching developments closely because any prolonged disruption to shipping through the Strait of Hormuz could affect global oil supplies and fuel prices. For now, diplomats are continuing their efforts to secure a lasting agreement, while shipping companies and international markets remain focused on whether negotiations can deliver lasting stability in the Gulf.