Shipping firms halt Hormuz transit following Iran strikes

Global energy markets are facing severe disruption as major oil companies and trading houses suspend shipments through the Strait of Hormuz. This follows military strikes by the United States and Israel against Iran, prompting Tehran to announce the closure of the critical waterway. Trading sources report that crude oil, fuel, and liquefied natural gas (LNG) shipments are at a standstill, with one top executive at a major trading desk stating that their ships will stay put for several days.