CRITICAL — Strait of Hormuz effectively closed. IRGC confirmed closure. Insurance cover cancelled Mar 5. 94% drop in tanker traffic. 5+ tankers attacked.
Day 6 of the Gulf crisis. War risk insurance officially withdrawn. Saudi Arabia activated its East-West pipeline but capacity covers only 25% of disrupted flow. Oil prices continue rising. Supply chains shifting to Cape of Good Hope, adding 10-14 days to Asia-Europe transit.
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