Foreign media reported just nine commercial vessels transited the Strait of Hormuz on Thursday, down from double digits; eight of the nine were outbound and the 10‑day average is 18. The nine included one VLCC, several Panamax and post‑Panamax tanker

2026-09-25

Foreign media reported just nine commercial vessels transited the Strait of Hormuz on Thursday, down from double digits; eight of the nine were outbound and the 10‑day average is 18. The nine included one VLCC, several Panamax and post‑Panamax tankers, a number of short‑ and medium‑range small tanks, and one ultra‑large gas carrier in ballast. Windward reported five tankers entered the strait on Wednesday, including one crude tanker, several product tankers and one LNG carrier. Shipowners and energy exporters have become more cautious transiting the Strait following a renewal of hostile actions this month.

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Before the outbreak of the conflict with Iran in February this year, the valuation of major US defense stocks relative to the S&P 500 reached a premium of about 15%, which Bernstein believes already included the anticipated $1.5 trillion defense budg

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