Overview
- Early trading shows Brent up roughly 10–14% above $80 a barrel and WTI near or above $70 as tankers pause transits through the Strait of Hormuz.
- Shipping firms and traders suspended voyages, with Maersk halting crossings, Greece advising vessels to avoid the area, and hundreds of tankers anchoring as war-risk costs climb.
- Regional authorities reported multiple vessel attacks, including the Palau‑flagged tanker Skylight near Oman where four crew were injured and evacuated, while UKMTO logged additional incidents.
- The traffic freeze follows U.S.-Israel airstrikes on Iran, with the IRGC reportedly warning ships not to pass, even as Iran’s foreign minister said Tehran does not intend to close the strait.
- OPEC+ members agreed to increase production by about 206,000 barrels per day in April, though analysts say limited spare capacity and chokepoint risks could keep prices elevated.