According to CoinMeta, shipping through the Strait of Hormuz has come to a standstill before the ceasefire between the United States and Iran expires. Over the weekend, only five cargo ships passed through this vital oil route, compared to 31 ships last weekend. Shipping traffic has dropped to its lowest level in three months, with an average of 13 ships passing through in the five-day period on Tuesday, reflecting the lowest level since May 12th. Since the start of the war on February 28th, shipping volumes have decreased by 90%. International benchmark Brent crude oil futures fell slightly by 0.15% on Monday to $88.45 per barrel, while US West Texas Intermediate crude oil fell by 0.74% to $81.79. Negotiations between the United States and Iran have stalled, and Iran's foreign minister stated that there is no real ceasefire between the two sides.