Tankers perform U-turns in Strait of Hormuz

Supertankers have turned back in the Strait of Hormuz due to uncertainty over Iran's potential retaliation against US strikes on its nuclear sites.

Tracking data shows that six large vessels, including the Coswisdom Lake, South Loyalty, and Damsgaard, recently made U-turns in the area.

Greece’s shipping ministry advised caution when using the route, while two Japanese shipping companies plan to reduce their presence there.

Oil prices briefly surged to five-month highs following the US intervention but have since stabilized.

Analysts warn of “clear and present risks of energy attacks” from Iran, which could disrupt crucial shipping routes and impact inflation in the West.