Inazmam Rashid, reporting from near the Strait of Hormuz, says roughly 1,000 vessels are currently waiting to make the passage. He says that backlog includes about 200 oil tankers carrying supplies destined for markets around the world.

Rashid reports that the disruption is already hitting energy markets. According to him, oil prices are rising sharply and higher fuel costs are being felt in multiple countries.

He says the Iranian military continues to exert control over the strategically vital waterway. Rashid also reports a series of threats directed at ships trying to enter the strait or approach its entrance.

A few days ago, Rashid says he watched a ship burn in the distance for several hours. He says there was no confirmation that the vessel had been attacked, but adds that recent incidents in the area mean that possibility has not been ruled out.

Iran has said it will block US and US-affiliated ships from passing through, while allowing others to transit, Rashid reports. He adds, however, that vessels without US links have also been targeted.

As one example, Rashid says a Thai-flagged ship was hit by ballistic missiles while attempting to pass through the strait. According to his account, the Omani navy rescued around 20 crew members, while about three people are still understood to be missing at sea.