Ongoing military tensions and competing naval restrictions have kept commercial transits through the Strait of Hormuz at minimal levels, with daily crossings often in the single digits since early May. Iranian authorities continue to require approvals and impose route controls, while U.S. naval presence and blockade measures limit access for most vessels. Recent data show traffic running at roughly 3-5 percent of pre-disruption volumes, with only isolated movements such as limited Chinese-flagged ships permitted under special arrangements in mid-May. These persistent chokepoint constraints and elevated security risks have driven trader consensus toward an average of 0-10 daily transits by month-end, as broader reopening remains stalled amid unresolved diplomatic and enforcement issues.