Strait of Hormuz Pressure Builds: The US carried out its 10th straight night of strikes on Iran, saying the aim is to degrade capabilities used to attack commercial shipping, as Iran retaliated by targeting US allies Kuwait, Jordan and Bahrain and shipping through Hormuz stayed largely stalled. Oman Maritime Incidents: UKMTO reported a tanker hit near Kumzar (Oman) that was abandoned and left burning/adrift, while another Dynacom-managed vessel was also struck around the same time—raising fresh safety and insurance concerns for Gulf routes. Red Sea Risk Spreads: Yemen’s Houthis announced a “maritime embargo”/naval blockade against Saudi Arabia, threatening the Bab el-Mandeb bypass and adding to energy-market volatility. Energy Markets React: Oil prices pushed higher (Brent back above $90 at points) as traders weighed renewed talks hopes against escalating chokepoint threats. Diplomacy vs Escalation: Iran’s interior minister reportedly traveled to Pakistan for talks, but mediators’ de-escalation efforts face a fragile backdrop as attacks continue. Regional Markets: European stocks edged lower as oil rose, with travel and tourism pressured while energy gained. Oman Business Angle: Oman’s export credit agency Credit Oman insured OMR107m in sales in Q1 2026, highlighting how firms are managing buyer-default risk amid trade disruption fears.