Strait of Hormuz crisis deepens

The blockade has distorted global oil markets, driving physical crude prices to record premiums as refiners scramble for immediate supply.

Analysts warn that the economic consequences extend far beyond fuel costs, impacting everything from food prices to Christmas shopping logistics.

The International Maritime Organization is currently developing an emergency evacuation plan for hundreds of seafarers stranded in the Gulf.

While alternative routes are being explored, experts suggest the Strait may not return to normal operations for months, even if a peace deal is reached.