Daily brief
A conflict involving Iran has led to the closure of the Strait of Hormuz, disrupting global oil shipments and trade. Ship traffic through the critical waterway has reportedly fallen by 94%, causing oil prices to rise and stock markets to fall. The disruption is straining economies in Asia and has triggered a 'force majeure' declaration by at least one major Indonesian petrochemical company.
The International Atomic Energy Agency has confirmed damage to buildings at Iran's Natanz uranium enrichment plant following an attack, with its chief stating no non-nuclear-armed country enriches uranium to Iran's level.
President Donald Trump has threatened to cut off all trade with Spain over its refusal to support a US-led war against Iran and for disallowing the use of joint military bases.
Iran has threatened to attack ships crossing the Persian Gulf, prompting President Trump to announce plans for US-provided insurance and naval escorts for tankers in the region.