US and Israel Attacks on Iran Raise Concerns Over Strait of Hormuz Oil Shipments

The Strait of Hormuz, a narrow waterway between Oman and Iran, is a critical route for about 20 million barrels of oil and a significant portion of global liquefied natural gas daily, mainly serving Asian markets. Following recent US and Israeli attacks on Iran, several oil companies and traders have suspended shipments through the strait amid safety concerns, though some vessels continue transit. Regional producers like Saudi Arabia and the UAE have increased exports and explored alternative routes to mitigate potential disruptions.