Two Indian-flagged tankers, Shivalik and Nanda Devi, carrying 92,700 metric tons of liquefied petroleum gas (LPG), are en route to India despite disruptions in the Strait of Hormuz caused by the ongoing U.S.-Israeli conflict with Iran, the Indian Foreign Ministry said on Saturday (14 March).
A widening conflict involving Iran, the United States and Israel has triggered escalating military strikes across the Middle East, disrupted shipping through the strategic Strait of Hormuz and raised concerns over global energy supplies. This live report tracks the latest developments.
Fifteen Turkish-owned vessels remain stranded in the blockaded Strait of Hormuz, Türkiye’s Transport and Infrastructure Minister Abdulkadir Uraloğlu said on Wednesday.
Oil prices continue to fluctuate as a result of the conflict in the Middle East with Iran and the insecurity of ships sailing through the key Strait of Hormuz route. Iran has said it will target any ship linked to the U.S., Israel or their allies.
Member countries of the International Energy Agency have unanimously agreed to release 400 million barrels of oil from emergency reserves to stabilise global markets disrupted by the war involving Iran.
The Strait of Hormuz has become a focal point of global concern as tensions rise following the conflict involving Iran, the United States and Israel. Tehran has threatened to block the strategic waterway, raising fears of disruption to global oil shipments and energy markets.
Bahrain’s state-owned oil company Bapco has declared force majeure after an attack set the country’s only refinery ablaze. The firm says domestic supplies remain secure, but operations are disrupted by the ongoing Middle East conflict, underscoring regional energy risks.
Escalating tensions between Iran and the U.S. are raising economic concerns across Central Asia. Although the region lies far from the conflict, its economies remain closely tied to global energy markets and trade routes linked to the Persian Gulf.
U.S. President Donald Trump said the U.S. military has enough stockpiled weapons to fight wars "forever"; in a social media post late on Monday. The remarks came hours before conflict in Iran and the Middle East entered its fourth day.
China expressed serious concern over the escalating conflict in Iran, confirming that one Chinese national was killed in Tehran. Beijing called for an immediate halt to military operations and a return to diplomatic talks, while other Asian countries have also voiced their positions on the crisis.
Several marine insurers said they are cancelling war risk cover for ships due to the conflict in Iran and the Gulf. Insurers including Gard, Skuld, NorthStandard, the London P&I Club and the American Club said their cancellations will take effect from 5 March.
Türkiye raised its security level for Turkish-flagged vessels in the Strait of Hormuz to Level 3 on Sunday (2 March). The development follows Iranian restrictions on shipping after U.S. and Israeli strikes and confirmation of Supreme Leader Ali Khamenei’s death.
Iran’s Revolutionary Guards navy held military exercises in the Strait of Hormuz on Monday (16 February), state-linked media reported. The drill took place a day before renewed nuclear negotiations between Tehran and Washington in Geneva.
Armed boats tried to intercept a vessel north of Oman on Tuesday in waters near the Strait of Hormuz, where heightened military activity and U.S.–Iran tensions are fuelling maritime security concerns.
Following U.S. military strikes on Iran, at least two supertankers reversed course near the Strait of Hormuz, reflecting heightened fears of disruption in one of the world’s most vital oil shipping lanes.
Goldman Sachs economists have warned that any significant disruption to oil shipments through the Strait of Hormuz could push Brent crude prices over $100 per barrel, potentially causing a sharp rise in transport costs, inflation, and slowing global growth.
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