Vessel traffic at the Strait of Hormuz continues to decline as last week’s hopes of negotiations of a U.S.-Iran deal began to fade, yet again. On Monday, only six commodity vessels transited the Strait of Hormuz in either direction, down from 11 ships in the latest 10-day average, according to shipping data from Kpler cited by Reuters on Tuesday. Four commodity vessels moved inbound into the Persian Gulf via the Strait and two others exited outbound, the data showed. At Bab el-Mandeb, the chokepoint between the Red Sea and the Arabian Sea, traffic remained unchanged on Monday compared to the 10-day average of about 24 vessels transiting the area. Traffic at Hormuz needs to recover to nearly pre-war levels of around 80 to 100 ships per day just to stabilize energy markets, Bank of America warned earlier this week.