Two Supertankers U-Turn in Strait of Hormuz After US Airstrikes

Following US airstrikes on Iranian nuclear facilities, two supertankers, Coswisdom Lake and South Loyalty, each capable of carrying about 2 million barrels of crude, abruptly reversed course and made U-turns in the Strait of Hormuz, a critical chokepoint for nearly 20% of the world's oil and gas supply. These maneuvers reflect growing commercial shipping concerns amid heightened tensions and the risk of Iranian retaliation, including a potential blockade of the strait as passed by Iran's Parliament. Despite the strait remaining officially open, the disruptions underscore the fragile security environment with increased electronic jamming and navigation risks reported in the region. Shipping companies and nations, including Greece, are advising caution and reconsidering vessel movements to avoid the conflict zone. The developments have triggered volatility in oil prices and raised fears of significant disruptions to global energy flows, potentially resulting in higher shipping costs, insurance premiums, and inflationary pressures worldwide. Analysts warn that these early signs of rerouting could presage more extensive impacts if the conflict escalates further.