Greece has reportedly cautioned shipowners to stay away from Iran's coast where possible, Bloomberg reports citing advisories; direction is to sail closer to the UAE and Oman when transiting the Strait of Hormuz

Greece has reportedly cautioned shipowners to stay away from Iran's coast where possible, Bloomberg reports citing advisories; direction is to sail closer to the UAE and Oman when transiting the Strait of Hormuz.

Greece's warning for shipowners to avoid Iran's waters highlights rising geopolitical tensions in the Strait of Hormuz, a critical passage for global oil shipments. This caution could lead to increased shipping costs and potential supply chain disruptions, thereby impacting oil prices, particularly WTI. Traders should monitor how this develops, as it may influence sentiment in the energy markets and trigger volatility in related commodities.