UPDATE: Oil prices climb as the Strait of Hormuz remains effectively closed. The ongoing closure continues to impact global energy markets as supply routes remain restricted.

European natural gas prices are on track for a 16% weekly gain as tensions in the Strait of Hormuz escalate. The rise reflects market concerns over potential supply disruptions in the region. #Energy #Markets

European natural gas prices are on track for a 16% weekly increase amid rising tensions in the Strait of Hormuz.

Senator Lindsey Graham warns that a potential Iranian oil blockade could expand globally, cautioning Tehran's allies that they act at their own peril.

Senator Lindsey Graham warned that any Iranian oil blockade could expand globally and cautioned allies of Tehran that they act at their own peril.

UPDATE: Tanker Helga reaches Basra terminals, the second vessel to arrive at the port since the closure of the Strait of Hormuz.

The tanker Helga has arrived at Basra terminals, marking the second vessel to reach the facility since the closure of the Strait of Hormuz.

China maintains crude oil stockpiles despite a collapse in Middle Eastern supply flows amid the ongoing war involving Iran.

China maintains its crude oil stockpiles despite a significant reduction in oil shipments from the Middle East caused by the ongoing war involving Iran.