Iranian forces seized an oil tanker named Talara on Friday as it passed through the strategically critical Strait of Hormuz, triggering what could become a major international standoff.
Shipping costs surged across the Middle East in June, with rates from Shanghai to the UAE’s Port of Khor Fakkan jumping 76% due to fears over Iran-Israel tensions. Despite President Donald Trump's announcement of a ceasefire on Monday, risks remain high for global shipping lanes, particularly through the Strait of Hormuz.
