The Iran-Israel conflict has now reached its 51st day, marked by a series of escalating tensions in the Strait of Hormuz. Iran has reimposed military control over the strait after firing upon a tanker, significantly raising the risk for maritime traffic. This incident has prompted at least two Revolutionary Guard-linked gunboats to enforce tighter restrictions, forcing some vessels, including an Indian-flagged supertanker, to turn back. As a result, 20% of global liquefied natural gas (LNG) trade, which typically passes through the strait, is under strain, with no LNG shipments exiting the Gulf since late February. The disruption is contributing to rising global LNG prices, particularly affecting energy-dependent Asian markets.

In parallel, Iran is attempting to reopen its airspace in a phased manner after weeks of disruption, but ticket sales remain suspended, leaving airlines and travelers uncertain. Diplomatic talks with the United States are ongoing, yet key sticking points remain unresolved, indicating that a breakthrough is not imminent. The situation is further complicated by conflicting signals from Iranian authorities regarding maritime security, leading to confusion for global shipping operators. As military posturing intensifies, the conflict is increasingly reshaping trade routes and energy markets, presenting a complex challenge for regional and global stability.