U.S.-Iran Confrontation in Hormuz Strait Sparks Market Fears
Iranian officials claimed U.S. violated ceasefire by targeting oil tanker and Qeshm Island before naval confrontation.
Lloyd's List Intelligence reported Iran established 'Persian Gulf Strait Authority' to vet ships and collect tolls, complicating navigation.
Trump called retaliatory strikes 'love tap' to maintain ceasefire, while UAE's air defenses dealt with missile and drone attacks.
Energy markets face uncertainty as 20% of oil supply transits strait; Brent crude jumped above $100 per barrel, raising supply concerns.
2 hours ago