How shipping insurance rates are rising, as Hormuz, Bab al-Mandeb shut down
Insurance rates through Hormuz are currently four times the five-year average.
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Insurance rates through Hormuz are currently four times the five-year average.
With the Houthi naval blockade, shipping disruptions now impact the Bab al-Mandeb strait in addition to Hormuz.
The European Union and Oman have signed an agreement to open a permanent EU Mission in Muscat, as the regional…
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Washington vows revenge for US military casualties and Iran claims attacks on US sites across the region.
An Iranian army spokesman asserts the war will continue until deterrence against further attacks has been achieved.
The US has escalated attacks on Iranian roads, bridges and power plants, and Iran too, has responded.
Analysts say Iran is using Gulf states to pressure Washington while avoiding direct confrontation with US forces.
Iran's IRGC claims an attack on Jordan while the US embassy issues a warning to Americans in Bahrain.
Pressure is expected to build on the Iranian public, as well as global energy markets due to the US blockade.