Ships avoid Hormuz as Iran media says it’s practically shut

Bloomberg: The sharply reduced traffic offers the first signs of disruption to commodity markets from the US decision to attack Iran, though it’s unclear how long it will last. The Strait of Hormuz is one of the most important focal points at times of tension with Iran, because a fifth of the world’s seaborne oil and liquefied natural gas goes through it each day. Tehran has in the past threatened to block it, but has never fully closed it…