Commercial traffic through the Strait of Hormuz has fallen to roughly 12 vessels per day from a pre-conflict norm of about 130, a decline of more than 90%. The drop comes despite President Donald Trump's August 27 claim that the waterway was "very functioning" and under greater U.S. control. Trump said mines had been cleared, acknowledged limited drone and rocket threats, and on August 28 reiterated that the U.S. controlled the strait and would not resume talks with Iran. An oil tanker was struck by an unidentified projectile in the strait on August 27. Iran says it will not fully reopen the waterway until the U.S. lifts sanctions and ends what Tehran calls a blockade of Iranian ports. A June agreement linking sanctions relief to restored maritime security has lapsed, while Iran and Oman have held bilateral negotiations on territorial and revenue-sharing issues without reaching a deal by late August. The strait normally carries roughly 20% of the world's petroleum and serves as the main export route for Saudi Arabia, Iraq, Kuwait and the UAE. Brent crude rose above $91 per barrel in mid-August, indicating that markets continue to price in disruption and escalation risk. The difference between official assurances and shipping conditions amounts to about 118 fewer vessels per day.