United States President Donald Trump has called for a naval coalition to deploy warships to secure the Strait of Hormuz, through which one-fifth of world oil shipments transit, as oil markets reel from supply disruptions caused by the US-Israeli war with Iran. What is essentially the closure of the Strait of Hormuz by Iran in response to the attacks by the US and Israel has sent oil prices...

Hundreds of tankers sit idle on both sides of the Strait of Hormuz as Iran has effectively closed the waterway, pushing oil prices above $100 – the highest since 2022, after the start of the Russia-Ukraine war. Oil tanker traffic in the strait, through which one-fifth of global oil passes, has plunged after Israel and the United States launched attacks on Tehran on February 28. Asian countries, including...