Geopolitical tensions escalate as shipping halts. Two supertankers abruptly reversed course near the Strait of Hormuz on Sunday after US-Iran peace negotiations collapsed in Islamabad. The vessels, Agios Fanourios I and Shalamar, turned back at Iran's Larak island checkpoint despite prior transit approvals. A third tanker successfully passed through an Iran-approved route. The Hormuz strait remains critical to global energy supply, with its effective closure since recent US-Israeli strikes on Iran creating unprecedented disruption. Reopening the waterway was central to weekend talks but remains a major sticking point. The unpredictable security environment continues forcing ships to abort transit attempts, threatening oil markets and global commerce.
