**Ongoing Iranian attacks on commercial vessels amid the US-Iran conflict have kept the Strait of Hormuz severely restricted, with AIS-visible traffic averaging just 4.4 daily transits over the past week versus 84.8 pre-crisis.** Recent incidents include a Kuwaiti VLCC struck on October 1 causing a fire, plus three Liberia-flagged tankers hit by projectiles on September 29 while transiting dark. Iran asserts control via required permits and targets non-compliant routes, prompting carriers like COSCO to abort transits and major lines to suspend Gulf services. This dynamic sustains elevated maritime risk premiums, supports higher oil prices through supply uncertainty, and drives rerouting or dark transits, with U.S.-facilitated movements providing limited offsets. Key near-term catalysts include potential ceasefire developments and further military responses that could alter transit volumes or attack frequency.