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The US conducted a second straight night of strikes against Iran after an Iranian drone hit a commercial vessel in the Strait of Hormuz on Saturday. The back-to-back military operation raises the risk of disruption to a waterway carrying roughly 20 percent of global oil supply.
The Iran conflict has exposed how dependent global trade is on a small number of vulnerable shipping chokepoints. Rising war-risk insurance premiums, longer rerouting distances, and concentrated lane capacity are pushing up costs for energy, manufacturing, and consumer goods worldwide.
The US has blockaded Iran's Strait of Hormuz, with the Pentagon claiming 34 ships turned back, while shipping firm Hapag-Lloyd says one vessel got through. The move is disrupting global fuel supply and drawing urgent calls from EU leaders for the strait to reopen. Switzerland is gradually reopening its Tehran embassy
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The US conducted a second straight night of strikes against Iran after an Iranian drone hit a commercial vessel in the Strait of Hormuz on Saturday. The back-to-back military operation raises the risk of disruption to a waterway carrying roughly 20 percent of global oil supply.
1mo ago · 4 min · Global Affairs
The Iran conflict has exposed how dependent global trade is on a small number of vulnerable shipping chokepoints. Rising war-risk insurance premiums, longer rerouting distances, and concentrated lane capacity are pushing up costs for energy, manufacturing, and consumer goods worldwide.
3mo ago · 2 min · Global Affairs
The US has blockaded Iran's Strait of Hormuz, with the Pentagon claiming 34 ships turned back, while shipping firm Hapag-Lloyd says one vessel got through. The move is disrupting global fuel supply and drawing urgent calls from EU leaders for the strait to reopen. Switzerland is gradually reopening its Tehran embassy
4mo ago · 2 min · Global Affairs
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