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2026March › 03

Strait

4 months ago

US Navy 'will begin escorting' oil tankers through the Strait of Hormuz, a strategic waterway, if necessary, Trump says.
Oil prices have soared more than14% this week as tanker traffic through the Strait of Hormuz has ground to a halt. European natural gas has soared more 70%.
“Ships are now afraid to cross the Strait of Hormuz, and that has profound implications for the global economy.”
Crude has surged as flows through Strait of Hormuz dry up, but so far reaction is muted compared with past oil shocks
Insurers announced they were cancelling war risk coverage after the IRGC said the Strait of Hormuz was 'closed'.
Ben Chu has been looking at what’s happened to marine traffic in the Strait of Hormuz, a key trade passage.
Brigadier General Jabbari, an adviser to the paramilitary Revolutionary Guard, made the remarks on state television on Monday, declaring the vital waterway effectively closed.
Washington says 'harder hits' are still to come, as Tehran retaliates by closing the Strait of Hormuz.
A closure of the Strait of Hormuz would send shockwaves through global energy markets, but the pain would be felt most acutely in Asia.
The conflict in the Middle East has affected the transport of fuel to the West after companies suspended sailing through the Strait of Hormuz following Iranian attacks on ships and ports.

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