[S&P: Shipping Insurance Costs Surge in the Strait of Hormuz Amid Tanker Attack Escalation] According to a report by Golden Finance on July 23, S&P Global Energy stated that with a new wave of tanker attacks making insurers increasingly reluctant to provide coverage, shipping insurance costs in the Strait of Hormuz have surged. The additional war risk premiums have risen from 1%–3% of the vessel's hull value a few weeks ago to 7.5%–10%. Meanwhile, some tanker operators are staying outside the strait, unwilling to risk passage. S&P also noted that commercial activity remains limited, with only 10 vessels passing through the Strait of Hormuz on Tuesday, compared to over 130 daily crossings before the outbreak of the Middle East conflict.