Schrödinger's Strait of Hormuz: Open or Closed?

Recent incidents in the Strait of Hormuz have caused a notable reduction in ship traffic, now hovering around 30-40 daily movements compared to over 140 in February. Despite ongoing tensions, some vessels still navigate the area, but overall transit has plummeted. This decline underscores the strait's critical role in global energy supply, as it serves as a crucial passage for oil shipments. Understanding these dynamics is vital for assessing the broader implications on global trade and energy markets.