On Tuesday, hundreds of vessels were observed clustering near Dubai as maritime traffic in the Strait of Hormuz has significantly diminished due to Iran's expanding territorial control. The ceasefire between the United States and Iran is increasingly fragile, with both sides exchanging fire and military movements intensifying. Reports indicate that crew members have received warnings from the Islamic Revolutionary Guard Corps about new boundaries in the region. The situation has been exacerbated by recent attacks on the United Arab Emirates port of Fujairah, further illustrating Iran's expanded command zone. Currently, the number of daily passages through the Strait of Hormuz has plummeted to nearly zero, a stark contrast to the approximately 135 daily crossings prior to the ongoing conflict. Experts, such as Anoop Singh (global head of shipping research at Oil Brokerage Ltd.), suggest that the US is attempting to rebalance power in the strait, but a quick reopening of bi-directional flows seems unlikely.