Recent attacks on tankers, including multiple mine and projectile incidents reported November 3–5, have kept AIS-visible commercial transits through the Strait of Hormuz at roughly 8–10 per day, far below the pre-crisis average of 85. Iranian forces continue asserting control and requiring permits amid ongoing U.S. escorts and limited strikes, while bypass pipelines have supported partial recovery in Gulf crude exports near 13–17 million barrels per day. This environment has driven VLCC freight rates on Middle East routes up more than 20-fold and war-risk insurance premiums to 32 times normal levels, with Brent crude holding near $96 per barrel. The remaining 24 days to November 30 feature continued volatility around any de-escalation talks, directly influencing daily vessel throughput and associated energy logistics costs.