There have been renewed attacks on commercial vessels in the Strait of Hormuz. The disruptions have lasted more than 100 days, placing pressure on global energy markets and countries dependent on imports from the Gulf. UN Economic Commission for Europe (UNECE) warned that market volatility, elevated prices and localized supply disruptions could continue for months.
Iran's latest attacks on commercial shipping in the Strait of Hormuz sent oil prices sharply higher in recent days. Growing oil production, alternative export routes and new shipping patterns suggest Iran's ability to weaponize the strait may be weakening. President Donald Trump declared the U.S.-Iran memorandum of understanding and ceasefire "over" and warned his administration could again impose a naval blockade on Iran.
No large vessel has transited the Strait of Hormuz since Tuesday. Only five vessels were tracked crossing the strait on Wednesday, and early Thursday morning, compared with 45 transits on Monday. Oil prices held steady on Friday, after several days of gains.
No commercial ship crossings were recorded on Sunday. At least 13 oil tankers turned back towards the Persian Gulf on Saturday after Iran's foreign minister said the strait was open. Iran closed the waterway again after the United States refused to lift its naval blockade of Iranian vessels. There were several security incidents near the strategic waterway.
There have been renewed attacks on commercial vessels in the Strait of Hormuz. The disruptions have lasted more than 100 days, placing pressure on global energy markets and countries dependent on imports from the Gulf. UN Economic Commission for Europe (UNECE) warned that market volatility, elevated prices and localized supply disruptions could continue for months.
Iran's latest attacks on commercial shipping in the Strait of Hormuz sent oil prices sharply higher in recent days. Growing oil production, alternative export routes and new shipping patterns suggest Iran's ability to weaponize the strait may be weakening. President Donald Trump declared the U.S.-Iran memorandum of understanding and ceasefire "over" and warned his administration could again impose a naval blockade on Iran.
No large vessel has transited the Strait of Hormuz since Tuesday. Only five vessels were tracked crossing the strait on Wednesday, and early Thursday morning, compared with 45 transits on Monday. Oil prices held steady on Friday, after several days of gains.
No commercial ship crossings were recorded on Sunday. At least 13 oil tankers turned back towards the Persian Gulf on Saturday after Iran's foreign minister said the strait was open. Iran closed the waterway again after the United States refused to lift its naval blockade of Iranian vessels. There were several security incidents near the strategic waterway.