Strait of Hormuz Crisis: 700 tankers pile up as security fears paralyse shipping amid US–Iran escalation, says report
As tensions rise following US-Israeli strikes on Iran, over 700 tankers are stranded in the Strait of Hormuz, a critical oil transit route. Shipping activities have plummeted, leading to soaring insurance costs and potential supply shortages, prompting Asian refiners to consider cutting operations.
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