Strait of Hormuz de facto closure occurs as commercial operators and insurers withdraw despite no official blockade .
US and Israeli strikes on Iranian targets trigger retaliatory missile attacks on UAE and Saudi Arabia. OPEC+ emergency output increase of 206,000 bpd is deemed insufficient to offset potential chokepoint disruption.
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Strait of Hormuz de facto closure occurs as commercial operators and insurers withdraw despite no official blockade .
US and Israeli strikes on Iranian targets trigger retaliatory missile attacks on UAE and Saudi Arabia.
OPEC+ emergency output increase of 206,000 bpd is deemed insufficient to offset potential chokepoint disruption.