Overview
- Iran’s Revolutionary Guard issued VHF radio warnings telling vessels not to transit the Strait of Hormuz, and multiple ships were struck, including the Palau‑flagged tanker Skylight off Oman, whose 20 crew were evacuated after injuries were reported.
- More than 150 tankers anchored or reversed course and several major carriers paused crossings, while marine insurers withdrew cover for Gulf voyages, sharply raising war‑risk costs.
- Brent crude briefly topped $82 before stabilizing around $78–$80, gold jumped, and equities fell across Asia, Europe and U.S. futures, with travel stocks hit and energy and defense shares firmer.
- OPEC+ approved a modest 206,000 bpd output increase from April, but analysts say limited spare capacity and constrained pipeline alternatives leave prices vulnerable if Hormuz flows stay disrupted.
- Iran launched missiles and drones across the region; Saudi Arabia reported drones intercepted near the Ras Tanura refinery with limited damage and a precautionary shutdown, while market watchers warn a prolonged halt could push Brent toward $100 and lift global inflation.