A major global shipping route for oil has been thrown into turmoil after Iran reportedly stopped tanker movements through the Strait of Hormuz following Israeli strikes in Lebanon.
According to Iran’s semi-official Fars news agency, authorities halted oil tanker traffic through the strategic waterway after Israel launched attacks targeting Hezbollah positions in Lebanon.
Earlier, Pakistan’s Prime Minister, Shehbaz Sharif, had suggested that Lebanon was included in a ceasefire arrangement involving Israel, the United States and Iran. However, the Israeli military quickly pushed back, insisting its operations against Hezbollah inside Lebanon would continue.
Israel also announced it had carried out what it described as the largest wave of strikes in Lebanon since the war began.
Reports indicate that since the ceasefire was announced, only two oil tankers have been permitted to pass through the critical shipping route.
The situation has severely disrupted movement through the Strait of Hormuz — one of the most important energy corridors in the world.
Before the conflict escalated, roughly 20% of the world’s seaborne oil supply passed through the narrow passage. Now, with tensions between Iran, United States and Israel intensifying, shipping traffic has nearly ground to a halt.
As a result, hundreds of vessels are reportedly stuck on both sides of the chokepoint, waiting for clearance while global energy markets closely watch the unfolding crisis.
