How shipping insurance rates are rising, as Hormuz, Bab al-Mandeb shut down
Insurance rates through Hormuz are currently four times the five-year average.

Insurance rates through Hormuz are currently four times the five-year average.





![Kuwaiti officials inspect damage inside a terminal at Kuwait International Airport following a drone and missile attack,[reuters]](https://aljazeeranews-mggx1uo47w.edgeone.app/wp-content/uploads/2026/06/reuters_6a20a9e4-1780525540.jpg?resize=770%2C513&quality=80)


IRGC claims responsibility for strikes against US military assets in Bahrain, Kuwait, Oman, Qatar, Jordan and Syria.
Iran struck Bahrain, Qatar, Oman, Jordan and Syria in retaliation for US strikes.
Fatih Birol says ‘oil security is still a critical issue’ and world should be ‘worried’ if situation does not improve.
Both sides face pressure points that could make a protracted war painful.
Oil prices rise as the US renews a blockade on Iranian ports and carries out a wave of air strikes.
Trump says the US will start charging a cargo fee for ships passing through the Strait of Hormuz.
Expensive interceptor missiles are facing mounting pressure from Iran’s cheaply produced drones.
Tensions escalate as the US president threatens to destroy Iran’s fortified nuclear site in the south of Tehran.
Iran’s military has warned it will not allow the United States to ‘interfere’ in the management of the Strait of Hormuz.
Iran targets its Gulf neighbours in third round of tit-for-tat attacks with US in a week.