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Hormuz traffic dwindles after Middle East attacks intensify

Commodity vessel transits through Hormuz fell to four on Monday from 10 the previous day, preliminary Kpler data showed.

Hormuz traffic dwindles after Middle East attacks intensify

The Department of Defense has admitted that Iranian attacks inflicted significant damage totaling hundreds of destroyed and damaged buildings at U.S. bases across the Middle East. This revelation comes in the form of the Pentagon inspector general's first report, shedding light on the extensive physical toll of the conflict. The report, released on Monday, also revealed advanced weapons shortfalls and industrial base bottlenecks for munitions resupply as a result of the U.S.-Iran war.

It took note that replenishing advanced missiles and defensive missile interceptors to prewar levels could take around three years. Defense Secretary Pete Hegseth had previously estimated the war's cost at $37.5 billion, while specific costs for diplomatic facilities were not publicly disclosed until now. The report detailed the substantial expense of evacuating U.S. personnel and citizens from the affected regions, with the State Department spending over $11 million on evacuation operations.

Iran retaliated against nearly all Middle Eastern countries hosting U.S. military bases, leading to billions in emergency and non-emergency military sales, largely to Saudi Arabia.

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