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Chart showing vessel traffic through the Strait of Hormuz only partially recovering in mid-2026.

Vessel traffic through the Strait of Hormuz remains well below its pre-conflict pace even after a partial recovery, a gap that matters because gasoline prices were the entire reason Canada's June inflation cooled to 2.8 percent from May's 3.2 percent. That relief was tied to a ceasefire window that had already collapsed before the data was released. July's inflation reading, due August 17, lands two weeks before the Bank of Canada's September 2 decision.

This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.

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