[Tensions in the Middle East Lead to Sharp Decline in Hormuz Strait Traffic, Trump Says Talks Will Resume]
Tensions in the Middle East are escalating. Israel's defense minister stated that the Israeli military will not fully withdraw from Gaza and will strike Iran again if necessary. The Houthi forces claimed to have launched 936 airstrikes against Saudi Arabia and warned that Egypt and Turkey might become new targets. Traffic through the Hormuz Strait dropped sharply to two vessels on Monday. Iran denied reopening the strait within seven days, stating that reopening would require lifting the blockade and unfreezing assets. The Iranian president's special aircraft departed for the U.S., aiming to promote high-level meetings in New York. U.S. President Trump said talks would resume soon, with an agreement expected after the midterm elections. The U.S. has demanded that Iran abandon nuclear weapons. Saudi Arabia has restarted its east-west oil pipeline to resume exports from Yanbu, while the UK is providing defense support to Saudi Arabia. (Source: Jintou Data)
