business π’ Tankers U-Turn in Hormuz Amid Tensions π’
Tanker traffic in the Strait of Hormuz is becoming highly erratic due to increasing security threats and Iran's control. The Amara fuel tanker has made several U-turns near the northern part of the Strait on Monday. Earlier, a local media report claimed a UAE-owned tanker was detained near Iranβs Qeshm Island on Monday. The situation worsened when a cargo vessel was hit by an unknown projectile early Tuesday, injuring crew members. This tension is pushing crude oil prices higher, with Brent Crude topping $91 per barrel.