Topline
Oil tankers are avoiding the Strait of Hormuz—a strategic Middle Eastern shipping route often used for exporting oil—following U.S. and Israeli strikes in Iran Saturday and Iran’s retaliatory strikes in nearby countries, according to Bloomberg.
The Strait of Hormuz, a key shipping route for oil, was reportedly closed Saturday after Iran was hit by airstrikes.
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Key Facts
The United Kingdom Maritime Trade Operations said Saturday it was aware of “significant military activity in the strait” and received reports from vessels citing broadcasts that claimed the strait was closed, but added it was unable to verify those reports.
This is a developing story and will be updated.