Trump Claims "Full Control" of Hormuz, but Tankers Still Dare Not Sail

Trump loudly claimed "full control of the Strait of Hormuz," but the reality is starkly opposite—daily transits have plunged from over 130 vessels before the conflict to just 14 now, a drop of more than 80%. Iran, without needing to defeat the U.S. Navy, has driven war-risk insurance premiums for a single transit from 0.25% to 10% of vessel value through intermittent attacks and uncertainty alone. Fear itself has become a weapon, as global energy supplies and inflationary pressures quietly close in on the U.S. midterm elections.