Brent Crude Climbs as Iran Conflict Disrupts Oil Shipping

Global energy markets are facing severe disruptions as maritime traffic through the Strait of Hormuz encounters unprecedented delays. Data from Marine Traffic reveals a growing number of tankers anchored on both sides of the waterway, which facilitates approximately 20% of the world's seaborne oil and a third of its fertilizer. Much of this supply is destined for Asia, specifically China, which remains a primary destination for crude exports.