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On Tuesday, shipping data from LSEG and Kpler confirmed that at least three tankers entered the Gulf via the Strait of Hormuz, including the Panama‑flagged Peace Gulf, which is bound for Hamriyah port in the United Arab Emirates. Earlier that day, two U.S.–sanctioned vessels, the Rich Starry and the Elpis, also transited the waterway. Because none of these ships were destined for Iranian ports, they remain exempt from the U.S. blockade that began on Monday. The U.S. Central Command (CENTCOM) announced that, as of 10 a.m. ET (14:00 GMT) on Monday, a naval blockade was in effect against all maritime traffic to and from Iranian ports, in line with the presidential order issued by former President Trump. The directive applies to "vessels of all nations" operating in Iranian coastal waters, including the Arabian Gulf and the Gulf of Oman. Tehran has warned of possible retaliation against ports in neighboring Gulf states. In response to the blockade, the Islamic Revolutionary Guard Corps (IRGC) ordered every ship to follow a newly‑drawn navigation map that forces vessels to enter the strait north of Larak Island and exit south of it, citing the risk of anti‑ship mines in the former main traffic zone. Before the conflict, the strait functioned like a divided highway with two dedicated lanes—each about 3.2 km long—carrying roughly one‑fifth of the world’s oil and gas shipments. The IRGC now classifies the original lanes as "restricted" and has effectively closed them. Ship traffic has collapsed by **more than 95 %** since the war began. Kpler’s tracking data shows that only **279 vessels** passed through the strait between Feb. 28 and Apr. 12, a stark contrast to the pre‑war average of around **100 ships per day**. Even after a cease‑fire took effect on Apr. 8, a mere **45 ships** have entered or exited the waterway. The disruption has left hundreds of tankers and other vessels stranded in the Gulf, slashing global oil and gas supplies by an estimated **20 %**—the largest fuel‑supply shock on record. Damage to Gulf energy infrastructure and the sharp reduction in shipments have pushed crude prices up by roughly **50 %**, with Asian importers bearing the brunt of the price spike. According to the same Kpler data, **22 ships** have been attacked in the Strait of Hormuz since the conflict started. The incidents are distributed as follows: eight in United Arab Emirates waters, six in Omani waters, two each in Iraqi and Qatari waters, and one each in Bahraini, Kuwaiti, Saudi and Iranian waters. These figures underscore the strategic vulnerability of the world’s most critical energy chokepoint and highlight how the combined effect of the U.S. naval blockade and Iran’s alternate routing has reshaped global shipping patterns and commodity markets.

The US military's Central Command (CENTCOM) reported that no ships 'made it past' the blockade in the Strait of Hormuz during its first 24 hours. Six merchant ships were ordered to turn around after being intercepted. The blockade, which began after failed US-Iran talks in Pakistan, applies only to vessels entering and exiting Iranian ports, while others remain free to transit the waterway.CENTCOM stated that 10,000 US sailors, Marines, and airmen are involved in the operation, along with more than a dozen US warships and dozens of aircraft. The blockade's effectiveness has raised concerns about Iranian retaliation and its impact on global oil markets.Despite CENTCOM's report, there are conflicting accounts of ships transiting the strait. Reuters reported at least three vessels, including two US-sanctioned tankers, passed through without heading to Iranian ports. However, AFP and US media outlets reported two ships left Iranian ports and transited the waterway.The situation remains tense, with Iran condemning the blockade as 'piracy' and Trump threatening to 'eliminate' any Iranian ships that attempt to break the blockade. Both sides have signaled openness to further talks, with Trump suggesting potential developments within two days and Iran expressing willingness to negotiate on issues like the Strait of Hormuz, Iran's nuclear program, and a ceasefire extension to Lebanon.

Sergey Lavrov touched down in Beijing as Washington intensified its pressure on Iran by attempting to block the Strait of Hormuz, a waterway that carries roughly one‑third of China’s oil imports. The Russian foreign minister was greeted with a red‑carpet reception, according to photos released by Russia’s Ministry of Foreign Affairs. Both Beijing and Moscow condemned the United States and Israel over their involvement in the ongoing war on Iran, noting that the conflict has already strained China’s energy supplies. China, a major purchaser of Iranian crude, denounced a newly announced U.S. plan to prohibit vessels from entering or leaving Iranian ports and coastal waters, calling the measure an unjustified interference with international trade. “The Strait of Hormuz is a vital international trade route for goods and energy, and its security and uninterrupted flow serve the common interest of the global community,” Chinese MFA spokesman Guo Jiakun said on Monday. According to Al Jazeera’s Alan Fisher, the U.S. hopes that by choking Iran’s trade it can force China to pressure Tehran into returning to negotiations, given that Beijing imports about a third of its oil from Iran. Lavrov also held a telephone conversation with Iranian Foreign Minister Abbas Araghchi, emphasizing the need to prevent any resurgence of hostilities in the Middle East and reiterating Russia’s “unwavering readiness” to assist in a diplomatic settlement. Araghchi relayed details of recent U.S.–Iran talks in Pakistan, which ended without a breakthrough, underscoring the limited diplomatic progress on the issue. The visit comes as China‑Russia relations have deepened since Russia’s full‑scale invasion of Ukraine in 2022. Earlier in the week, Chinese Foreign Minister Wang Yi spoke with Lavrov, agreeing that the two capitals would cooperate to de‑escalate tensions in the region. Beijing’s diplomatic calendar this week also featured meetings with Spanish Prime Minister Pedro Sanchez, United Arab Emirates President Mohamed bin Zayed Al Nahyan, and an upcoming visit by Vietnamese President To Lam, highlighting China’s active role in global diplomacy despite its low‑profile stance on the Iran conflict. Analysts note that China’s restrained approach allows it to position itself as a “reliable, stable and predictable partner” for states seeking alternatives to U.S. influence, especially given its extensive trade ties with Tehran. Former U.S. President Donald Trump, slated to visit Beijing next month, warned he would impose a 50 percent tariff on Chinese goods if China provides military assistance to Iran. The claim followed a CNN report citing U.S. intelligence that China might deliver new air‑defence systems to Tehran. Chinese officials dismissed the report as “completely fabricated” and warned of “resolute counter‑measures” should the United States use it as a pretext for additional tariffs.

Asian stock markets experienced a significant surge on Tuesday, while oil prices declined, as renewed hopes for ceasefire talks between the United States and Iran brought relief to global markets. US President Donald Trump announced that Iranian officials had reached out to his administration, expressing their openness to a deal.The positive turn for markets came after Trump's remarks at the White House, where he stated, 'We've been called by the other side, and they would like to make a deal very badly.' This development led to gains in major Asian markets, including Japan's Nikkei 225, which rose as much as 2.5 percent, and South Korea's KOSPI, which gained about 3.7 percent. Singapore's Straits Times Index also climbed about 0.6 percent, while Hong Kong's Hang Seng Index was up about 0.4 percent in the early afternoon, and the SSE Composite Index in Shanghai was about 0.5 percent higher.The rally in Asia followed gains on Wall Street, with the benchmark S&P; 500 finishing up 1 percent overnight. Meanwhile, Brent crude, the benchmark for global oil prices, dipped nearly 1.5 percent, falling below $98 a barrel. This decline in oil prices occurred despite the US imposing a naval blockade on Iranian ports, a move that analysts warn could exacerbate the energy shortage affecting the global economy.Iran has effectively halted shipping through the Strait of Hormuz since the start of the conflict on February 28, significantly impacting the global energy market. Only 21 vessels transited the strait on Sunday, compared to roughly 130 daily transits before the conflict began, according to maritime intelligence provider Windward.

President Donald Trump asserted that a diplomatic path remains open for Tehran, even as the United States enforces a naval blockade of Iranian ports and Israel deepens its ground offensive in southern Lebanon. Iran’s leadership denounced the blockade as "piracy" and thousands gathered in Tehran to demonstrate against the restriction on maritime traffic through the strategic Strait of Hormuz. The Associated Press reported that diplomatic channels are still active; Pakistan has volunteered to host a second round of negotiations in Islamabad later this week. US blockade and protests: The enforcement of the maritime restrictions has provoked Iranian accusations of illegal action and sparked street protests in the capital. Tehran’s legal stance: Iran’s armed forces labeled the blockade unlawful, warning that targeting its ports could jeopardize broader Gulf shipping. IRGC warning: A Revolutionary Guard spokesperson hinted that Iran retains "unused capabilities" and may adopt new tactics if the confrontation escalates. Parliamentary support for the Pope: Speaker Mohammad Bagher Ghalibaf praised Pope Leo XIV’s condemnation of the war, describing it as courageous. Russian nuclear staff pull‑out: Moscow has withdrawn most of its personnel from Iran’s sole nuclear power plant, a project built with Russian assistance. Qatar’s mediation call: Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani urged both Washington and Tehran to engage constructively in mediation. Pakistan’s ceasefire assessment: Prime Minister Shehbaz Sharif said the US‑Iran truce is holding, even as weekend talks failed to produce a breakthrough. Shipping disruption: A UN spokesperson warned that there is no military solution and noted that roughly 20,000 vessels are stranded, straining global supply chains, especially for fertiliser. UK push for Lebanese inclusion: London advocated adding Lebanon to the US‑Iran ceasefire framework, which currently omits Hezbollah‑related fighting. US‑Lebanon diplomatic talks: Israeli and Lebanese ambassadors are slated to meet in Washington to discuss halting hostilities. Hezbollah’s rejection: Leader Naim Qassem urged Lebanon to cancel the planned Washington meeting, reaffirming the group’s opposition to any direct dialogue with Israel. Russia’s uranium offer: The Kremlin reiterated its willingness to accept Iran’s enriched uranium as part of a broader US‑Iran settlement, echoing President Vladimir Putin’s statements. Trump on Iranian outreach: The former president claimed Iranian officials have expressed a strong desire to negotiate, though he did not identify the interlocutors. Trump’s stance on the Pope: He dismissed criticism of Pope Leo XIV as unwarranted, labeling the pontiff "weak" on key issues, including Iran. Threat to Iranian vessels: Trump warned that U.S. forces will neutralise any Iranian fast‑attack ships that approach the blockade zone. Domestic political pressure: Senate Democrats, led by Chuck Schumer, are pushing for a new vote to limit the president’s war‑making powers, citing rising U.S. fuel prices. Protester arrests in New York: Approximately 90 demonstrators, including whistleblower Chelsea Manning and actor Hari Nef, were detained during a Manhattan traffic‑stop protest against the war and U.S. arms sales to Israel. Israel’s buffer‑zone push: Israeli forces continue ground and air operations in southern Lebanon, razing structures in border towns such as Naqoura to create a security buffer. Hezbollah retaliation: The group has intensified rocket and drone attacks on Israeli positions in locations like Bint Jbeil and Biyyada. Accusations of a "Greater Israel": Hezbollah chief Hassan Qassem accused Prime Minister Benjamin Netanyahu of pursuing an expansionist agenda backed by the United States. Diplomatic tension with Italy: Israel summoned the Italian ambassador after Italy’s foreign minister condemned Israeli attacks on Beirut as "unacceptable". Casualties in Lebanon: Israeli operations have raised the death toll in southern Lebanon since March 2 to at least 2,089, including a recent drone strike that killed two civilians near Nabatieh. Public opinion in Lebanon: Lebanese citizens are divided, with some weary of the conflict and hopeful for diplomacy, while others distrust Israel’s intentions. Canadian casualty: Canada’s foreign minister confirmed that a Canadian national died in southern Lebanon, though details remain scarce. Energy implications: Reuters reported that a Chinese‑owned tanker, sanctioned by the United States, successfully navigated the Strait of Hormuz despite the blockade, underscoring the challenges of enforcement. Oil market outlook: U.S. Energy Secretary Chris Wright warned that oil prices could keep climbing until "meaningful ship traffic" resumes through the strait.

The U.S. Southern Command (SOUTHCOM) confirmed on Monday that its forces carried out a kinetic air strike against a boat navigating known narco‑trafficking routes in the eastern Pacific, resulting in the deaths of two men identified as "male narco‑terrorists". The operation was executed under the orders of U.S. Commander General Francis L. Donovan, who cited intelligence reports linking the vessel to Latin American drug‑smuggling networks. A grainy video released alongside the statement shows a stationary craft with outboard engines and nearby fishing‑net floats being hit from the air before erupting in flames. SOUTHCOM described the attack as a "lethal kinetic strike" aimed at disrupting illicit trafficking. This incident marks the second day in a row that U.S. forces have targeted vessels in the Pacific. The previous day, the military reported destroying two boats, killing five individuals and leaving one survivor whose fate remains unclear. SOUTHCOM indicated that the U.S. Coast Guard had been alerted to the survivor's situation. According to SOUTHCOM, the cumulative impact of these operations since September exceeds 170 fatalities across dozens of strikes in the eastern Pacific and Caribbean waters. The figures have drawn sharp criticism from international law scholars, human‑rights organizations, and regional governments, who label the campaign as a series of extrajudicial killings that may have targeted civilian fishermen rather than confirmed cartel operatives. While the Trump administration maintains that the strikes are a legitimate component of its broader war on drug cartels in Latin America, it has yet to provide concrete evidence linking the targeted vessels to illicit drug activities. The lack of transparency continues to fuel debate over the legality and morality of conducting lethal force in international waters.

HSBC’s chief executive, Georges Elhedery, told Bloomberg Television at a conference in Hong Kong that the ongoing Iran war is undermining global economic confidence. He warned that the conflict’s duration could amplify price pressures on commodities such as oil, refined products, fertilisers and metals, extending the impact far beyond the Middle East. Brent crude, which had briefly risen above $100 per barrel, slipped 0.9% to $98.5 per barrel after a U.S. blockade of Iranian ports took effect. Negotiations between the United States and Iran are set to resume in Islamabad, but no agreement was reached in the previous talks. In London, the FTSE 100 edged up 22 points (0.21%) to 10,605, even as Imperial Brands led the losers, citing a “more uncertain geopolitical and macro environment.” The UK recruitment firm PageGroup warned that the Middle East conflict is creating an “increasingly uncertain outlook” for the rest of the year, with salaries lagging behind 2022‑2023 levels across the UK, Europe, the Middle East and Asia. HSBC holds a 31% stake in Saudi Awwal Bank, making it one of the European banks most exposed to the region, which contributes roughly 4% of its pre‑tax profit according to JP Morgan analysts. Nevertheless, Elhedery noted that capital outflows from the Middle East have been “very benign” so far. Since the U.S. and Israel began striking Iran on 28 February, some affluent Middle‑Eastern investors have started exploring relocation to financial hubs such as Singapore and Hong Kong. HSBC chair Brendan Nelson stressed that a peace settlement is essential to restore global energy flows, warning that prolonged disruption would lift inflation and suppress growth. “The longer the disruption continues, the more the indirect effects from higher energy costs will lift inflation and depress growth,” he said at the HSBC Global Investment Summit. Manufacturers reliant on petroleum‑derived synthetic fabrics, such as sportswear maker Castore, reported cost increases of 10‑15% and warned that continued conflict could push those costs onto consumers. Co‑founder Tom Beahon described price volatility as “very difficult to plan,” with daily swings of up to 40%. Logistics are also strained: airlines have reduced flights and vessels remain stranded in the Strait of Hormuz, complicating product shipments. Castore hopes that a resolution in the coming weeks will limit the impact on customers. Virgin Atlantic chief executive Corneel Koster told the Financial Times that jet‑fuel prices have more than doubled since the war began, adding that “some of this disruption to global energy prices will be here to stay.” UK Chancellor Rachel Reeves, speaking at the IMF and World Bank spring meetings, called for coordinated economic action, stating that the Iran conflict must become “a line in the sand” for how the world handles crises and instability.

The Philippines has made a grave accusation against China, claiming that Chinese boats were found with cyanide near the disputed Second Thomas Shoal in the South China Sea. Laboratory tests confirmed the presence of the toxic substance in bottles seized by the Philippine navy last year. Security officials warned that the cyanide could have severe consequences for marine life and potentially weaken the reef that supports a warship Manila grounded on the atoll to reinforce its maritime claim. The use of cyanide is seen as a form of sabotage aimed at killing local fish populations and depriving navy personnel of a vital food source. Cornelio Valencia, spokesperson for the National Security Council, emphasized that the cyanide could damage the reef and compromise the stability of the warship. In response, China's Foreign Ministry dismissed the Philippines' assertions as a 'stunt,' accusing Manila of illegally harassing Chinese fishing boats and staging the incident. The incident is part of a broader maritime dispute between China and the Philippines, with China claiming nearly all of the South China Sea, including areas claimed by other nations. The dispute has led to several confrontations, including a violent incident on June 17, 2024, where a Filipino sailor lost a finger. The Philippines also accused Chinese coastguard ships of firing water cannons at Filipino fishermen in December 2025, injuring three people and damaging two fishing vessels. Despite these tensions, China and the Philippines held high-level talks last month to explore preliminary steps towards oil and gas cooperation and confidence-building measures at sea. However, the Philippine Foreign Ministry noted that the scope of coastguard cooperation would be limited and did not include joint patrols. The South China Sea is a critical waterway, with over $3 trillion in annual ship-borne commerce traveling through it. A 2016 ruling by an international arbitral tribunal found China's sweeping claims had no basis under international law, a decision China rejects.

Energy prices in the United States have continued to surge, even after President Donald Trump's administration issued a 60-day waiver of the Jones Act, a maritime law that restricts foreign-flagged vessels from transporting goods between US ports.The waiver, which came into effect on March 18, was intended to alleviate pressure on energy supplies by allowing more foreign vessels to transport goods domestically. However, experts say the impact on oil prices has been negligible, with oil prices rising 4 percent on the day amid a US blockade of Iranian ports.“It is estimated that it’s going to be about 3 cents on the East Coast and it might go up on the Gulf Coast, but these changes are so small that they’re overshadowed by the spikes in oil prices, and the oil prices keep going up,” said Usha Haley, a professor of management at Wichita State University.The Containerized Freight Index, a benchmark for shipping container costs, has jumped more than 10 percent over the last month and is up more than 35 percent from this time last year. The average price of gas in the US has also increased to $4.125 per gallon, up from $3.63 at this time last month.Despite the waiver, shippers have adapted their routes, with more than 34,000 ships diverting from the Strait of Hormuz over the past month. Major vessel insurers have also cancelled war risk coverage for ships travelling through the waterway, dissuading ship owners from going through the Gulf.Experts predict that fuel prices will only normalise once traffic through the strait returns to pre-war levels. The ongoing conflict and disruptions to transit through the Strait of Hormuz have contributed to the sustained high energy prices.