Oil prices soar, stock markets fall amid US‑Israeli strikes on Iran
Автор: Al Jazeera English
Загружено: 2026-03-01
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Several ships have been struck in the Strait of Hormuz.
Shipping companies have told their oil and gas tankers to drop anchor, bringing shipments to a halt.
Around 200 tankers have stopped their journeys in and out of the region.
The Strait's narrow passage offers few points for safety.
Insurers of the ships are asking for high rates, and some are reportedly trying to cancel contracts due to the conflict.
The largest concentration of ships at anchor has formed off the northern coast of Oman, just east of the strait.
Other tankers are near the port of Dubai, and off the coasts of Kuwait and Bahrain.
Twenty percent of the world's oil normally flows through the Strait of Hormuz.
Oil jumped 13 percent in early trade in Asia, the biggest rise in four years, before paring back some of the gains.
Asian stocks have fallen slightly.
Al Jazeera’s Jack Barton has more from Seoul, South Korea.
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