Egypt's Suez Canal Authority declares waterway safe as traffic volumes rebound, with August revenue reaching $567.1 million.

YouTube video by China Observer

U.S. President Donald Trump asserted that the Strait of Hormuz remained 'open' and under full U.S. control, despite shipping data revealing a dramatic drop in traffic through the critical waterway. Reuters reported that average daily transits fell to just 10 ships over the past 10 days, with only two vessels passing on Saturday and six on Sunday—mostly using the Iranian route. This marks the lowest level since May, contradicting Trump's recent claims of 'full control' and 'a lot of oil pouring out.' The decline coincides with record-high diesel prices in the U.S., surpassing $5.85 per gallon for the first time in history, and gasoline prices exceeding $4 daily in August. Data from Kpler and LSEG showed minimal cargo movement, including no Very Large Crude Carriers (VLCCs) exiting the strait since Wednesday. Trump's insistence on U.S. dominance over the Strait of Hormuz has drawn criticism amid these stark realities, highlighting a disconnect between his public statements and actual shipping trends.

Hormuz shipping traffic fell to six vessels on August 10, half the 10-day average, as fading US-Iran deal hopes and fresh refinery attacks pushed diesel prices sharply higher.

What a plunge in shipping traffic from China says about tariffs and the economy  MarketWatch