Tanker traffic through the strait remains at a standstill as ship owners fear attacks by Iran. The closure has triggered the largest oil supply disruption ever.

In a U-turn from his earlier claim US Energy Secretary Chris Wright said the US Navy it is not yet ready to escort commercial oil tankers through the Strait of Hormuz, one of the world’s most sensitive maritime choke points for global energy supplies.

United States Treasury Secretary Scott Bessent, on Thursday, announced that the U.S. Navy will soon begin escorting oil tankers through the Strait of

India is in talks with Iran over allowing as many as 20 oil and gas tankers through the Strait of Hormuz, which has remained shut amid the Iran war. The negotiations are being handled by the Ministry of Foreign Affairs, Bloomberg reported.

India is in talks with Iran over allowing as many as 20 oil and gas tankers through the Strait of Hormuz, which has remained shut amid the Iran war. The negotiations are being handled by the Ministry of Foreign Affairs, Bloomberg reported.

The Strait of Hormuz has been effectively closed to shipping because of the war against Iran by the U.S. and Israel.

Mubasher: The companies exporting LNG and oil from the GCC countries through the Strait of Hormuz will feel the effects most acutely, said S&P Global Ratings. In a recent statement, S&P Global Ratings noted that it looks at the potential effect of …