Crude oil prices are soaring again, back above the $80 per barrel level as fresh tensions between US and Iran makes shipping through the Strait of Hormuz fraught with risks. Vessel movements have slowed sharply again after fresh attacks on ships on Tuesday and subsequent US retaliatory strikes on Iranian targets overnight.

Renewed U.S.-Iran military strikes and attacks on commercial shipping near the Strait of Hormuz have lifted oil prices and reminded markets that geopolitical risks remain a major…

Despite renewed U.S.-Iran military exchanges, some tankers continue transiting the Strait of Hormuz while others delay or reverse course as security risks intensify.

NEW DELHI: US President Donald Trump’s announcement ending the ceasefire with Iran has escalated concerns about the transit through Strait of Hormuz of ships carrying fuel,…