OIL TRADE ENTERS CHOPPY WATERS

Shipping routes disrupted, exporters face squeeze | e Indian Navy launches rescue after distress call |e Gulf waters see fresh tanker attacks

- AGENCIES

THE WIDENING WAR between the United States, Israel and Iran is beginning to ripple across global energy markets and shipping routes, with tanker attacks, disrupted maritime traffic and fears of wider regional escalation.The conflict, now in its sixth day, has already hit vital oil and gas supply chains while drawing in multiple countries — including India, whose navy has been involved in rescue efforts after an Iranian warship was struck near Sri Lanka.

Shipping in the strategically crucial Strait of Hormuz — through which nearly a fifth of global oil and liquefied natural gas flows — has been severely disrupted as vessels remain stranded amid escalating attacks. Around 200 ships, including oil tankers, LNG carriers and cargo vessels, were anchored in Gulf waters on Thursday while hundreds more remained outside the strait unable to reach ports, according to shipping data.