Iran's nightmare: Hormuz slipping through fingers...

Iran is losing its grip on the Strait of Hormuz, with shipping analytics firm Kpler reporting that more than 80% of vessel transits over the past two weeks have taken the US-backed Omani route.

Despite Tehran's attacks on ships and toll demands, most tankers are now defying Iran's authority, according to reports. Energy Secretary Chris Wright said combined oil transits total approximately 15 million barrels per day.