13 hours ago
Israel-Iran Conflict Begins to Disrupt Global Supply Chains
In their fourth day of fighting, with no end in sight, ripples from the Israeli-Iranian conflict are beginning to rock global supply chains. Some oil tanker owners and managers have paused offering their vessels for Middle Eastern routes as they assess the risks, fueling concerns over export flows from the region. The stability of shipping in and around the Middle East will be closely watched by markets in coming weeks.
The region is home to about a third of the world's oil production, and major exporters such as Saudi Arabia and the United Arab Emirates have little room to divert exports should shipping be affected. Navigation signals from more than 900 vessels in the Strait of Hormuz and the Persian Gulf went awry over the weekend, creating confusion in the shipping chokepoint as the fighting intensified
