Strait of Hormuz disruption rattles global oil and shipping markets

LONDON/DUBAI, March 5 — Shipping through the Strait of Hormuz remained severely disrupted on Thursday as the ongoing Middle East conflict stranded oil tankers and raised concerns about global energy supplies.

.The crisis escalated after a U.S. naval strike sank an Iranian warship near the region, intensifying security risks along one of the world’s most critical energy corridors.Strategic trade routeThe Strait of Hormuz handles a significant share of global crude oil and liquefied natural gas shipments, linking energy producers in the Persian Gulf to international markets.The latest disruptions have forced vessels to delay transit through the narrow waterway, triggering volatility in global oil prices and shipping insurance costs.Energy market impactEnergy-importing economies across Asia and Europe are closely monitoring the situation as prolonged disruptions could tighten supply chains and elevate fuel costs.Energy traders and shipping firms have warned that continued instability could ripple across global markets if tanker traffic remains restricted.