Middle East live: Hormuz shipping traffic falls as Iran-US talks stall
Summary
Shipping traffic through the Strait of Hormuz dropped sharply due to stalled talks between the US and Iran and increased security concerns. Oil prices have risen as the ongoing conflict in the Middle East disrupts energy supplies.Key Facts
- Only seven commodity ships crossed the Strait of Hormuz on Thursday, half the number from the previous day.
- The Strait of Hormuz is a key waterway that handles about 20% of the world's crude oil and liquefied natural gas shipments.
- No very large crude oil or liquefied natural gas tankers passed through the strait that day, but one very large gas carrier carrying propane and butane did transit.
- US-Iran peace talks have stalled, increasing tensions and risks around shipping in the region.
- The USS George Washington aircraft carrier strike group arrived in the Middle East to replace the USS Abraham Lincoln amid criticism of President Donald Trump’s approach to the Iran conflict.
- President Trump announced new sanctions on Iran to increase economic pressure.
- Yemen's Iran-backed Houthi rebels claimed attacks on Saudi facilities near the Yemeni border.
- Oil prices rose, with Brent crude reaching $93.82 per barrel, continuing a weekly increase due to supply worries from the Middle East conflict.
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