London: Rising tensions between Iran and Israel have significantly unsettled global oil markets already facing multiple pressures. The conflict escalated after Israeli strikes targeted military and nuclear sites in Iran, prompting retaliatory missile attacks. These developments have injected new uncertainty into energy markets, which are closely watching how the situation unfolds.
Airlines have responded by suspending flights to major regional airports, including Tel Aviv and Tehran. This disruption to air travel reflects the broader instability gripping the region and has added to concerns about safety and logistics for international transport networks.
Oil companies, shipping firms, and regulatory agencies are increasingly worried about the security of critical maritime trade routes, especially the Strait of Hormuz. This narrow but vital waterway handles a significant portion of the world’s oil shipments, making its stability essential for global energy supplies.
While merchant vessels continue to navigate the Strait of Hormuz, they are doing so with heightened caution. The risk of the Strait becoming a flashpoint in the Iran-Israel conflict has raised alarms throughout the shipping industry, which depends heavily on uninterrupted passage through these waters.
Iran has previously threatened to close the Strait of Hormuz in retaliation against Western pressure and sanctions. Even the suggestion of such a blockade has sent oil prices surging, causing shockwaves across global supply chains and raising fears about future disruptions in energy security worldwide.
