LONDON : Renewed attacks on commercial vessels in the strategically vital Strait of Hormuz have heightened concerns over global energy supplies, even as diplomatic efforts seek to ease tensions involving Iran. According to shipping security assessments, 37 vessels were targeted in October, the highest monthly figure since the beginning of the conflict. Further incidents reported this month have kept international shipping companies on alert.
The uncertainty has also unsettled oil markets, with prices recovering after recently touching two-month lows. Any prolonged disruption to traffic through the narrow waterway could affect international oil supplies, raise shipping insurance costs and intensify inflationary pressures across energy-dependent economies.