Oil Shipments Through Key Middle East Channel Drop Sharply

Traffic in the Strait of Hormuz is at a historic low as security fears grow, sparking global concerns about oil supplies.

The Strait of Hormuz is one of the most important shipping lanes in the world. It is a narrow stretch of water where most of the world's oil is shipped from the Middle East. Right now, things are looking very bad there. New data shows that the number of ships passing through this area has dropped to record lows. There are now only a tiny number of ships making the trip compared to normal. Some people who work in the shipping industry are calling this the 'perfect storm.' They say that winter is coming, and having fewer ships moving oil could cause big problems for the global energy market.…