Singapore Prime Minister Lawrence Wong warned that permitting any party to weaponise an international waterway sets a dangerous precedent, speaking at a virtual conference focused on freedom of navigation in the Strait of Hormuz. His remarks signal Singapore's formal positioning on one of the world's most commercially and strategically sensitive chokepoints. The Strait of Hormuz channels roughly a fifth of global oil supply, making any disruption a direct transmission mechanism into energy markets, shipping costs, and supply chain pricing. Wong's framing, centred on precedent rather than any single actor, reflects Singapore's longstanding posture as a small, trade-dependent state with a structural interest in rules-based maritime order. The conference setting suggests coordinated diplomatic signalling among like-minded nations. Investors and operators in energy, tanker, and maritime insurance markets should watch whether Wong's remarks catalyse broader multilateral statements or concrete freedom-of-navigation commitments, either of which would affect risk pricing along the Gulf corridor and beyond.
Iranian armed forces attacked a cargo ship in the Strait of Hormuz on Thursday, briefly halting traffic through the waterway. The strike threatens a fragile US-Iran arrangement and could push shipping insurance costs and oil prices higher.
The US has struck Iran, with President Trump citing an Iranian attack on a ship in the Strait of Hormuz as justification. The action raises immediate risks for global oil flows through one of the world's most critical shipping chokepoints.
The US struck ten Iranian targets on the second consecutive day of military action, putting a fragile ceasefire under serious pressure. The escalation raises immediate risks for Gulf shipping, global oil supply, and regional stability.
Venezuela's twin earthquakes, magnitudes 7.2 and 7.5, have killed at least 164 people and injured 971, interim president Delcy Rodriguez confirmed Thursday. The quakes are the country's strongest since 1900, collapsing buildings across Caracas and prompting a state of emergency, with the death toll expected to rise as
