US pauses Iran strikes as Hormuz traffic drops below 10 ships and oil slides more than 6%

A lull in US-Iran airstrikes has failed to ease pressure on key shipping lanes, as Iran-backed Houthi forces attacked Saudi-linked tankers in the Red Sea and threatened to blockade the Bab al-Mandeb Strait. Commercial traffic through the Strait of Hormuz fell to fewer than 10 ships over the weekend, down from more than 100 a day before the war, according to shipping data tracked by CNN. Brent and WTI each fell more than 6% in a single session even as US equity index futures pointed higher. The moves underscored market concern that supply risks are shifting from a tactical pause in fighting to broader, longer-lasting disruptions.