Vessel movements through the Strait of Hormuz have fallen sharply after tit-for-tat strikes between the US and Iran, reports BBC News.

Maritime intelligence firm Kpler said only 23 tankers and cargo ships crossed the strait, down from 47 a week earlier. Before the conflict began, an average of 138 ships transited daily, according to the Joint Maritime Information Center.

The three vessels hit this week were using a US-recommended corridor through Omani waters. Iran insists the only safe passage is via its designated northern route close to its coast.

Traffic initially rose after the 17 June peace deal, peaking at 72 ships on 24 June. But two vessels were struck on 25 and 27 June, prompting Iran to warn all ships to use its approved lanes.

US President Donald Trump called the attacks a "foolish violation" of the truce and ordered strikes on Iranian targets. Iran accused Washington of breaking the deal and said it had hit US-linked sites.

Analysts said shipping will likely fluctuate as the cycle of attacks and reprisals continues. Martin Kelly of EOS Risk Group predicted cautious peaks and troughs until another incident occurs.

The memorandum of understanding signed in June committed Iran to safe passage for 60 days and dialogue with Oman on future administration of the strait. Critics said the deal was vague and did not guarantee free passage long term.

Iran's Islamic Revolutionary Guard Corps warned foreign powers against interfering in route decisions, saying any challenge would provoke a "crushing response."

Speaking at the NATO summit, Mr Trump said the memorandum was "over" but talks with Iran could continue. Analysts said Washington must rethink its approach as neither economic incentives nor military threats have altered Tehran's behaviour.