Iran closure of Hormuz Strait would be even worse for tanker shipping than Red Sea crisis

Any disruption in the Strait of Hormuz as a conflict between Israel and Iran spirals would likely be worse for global shipping markets than the Red Sea crisis, analysts say.

Tensions between Israel and Iran have been simmering over into outright conflict, with Tehran launching almost 200 missiles at Israel on Tuesday evening in response to the killing of Hezbollah leader Hassan Nasrallah last week and Hamas chief Ishmael Haniyeh in July.