Shipping activity in the Strait of Hormuz is being profoundly affected by escalating tensions between Israel and Iran. Ships are being advised to maintain their distance as fears grow over potential hostilities, including threats from Iran to close this crucial oil passage. Insurance costs for shipping in the Middle East have surged as tanker rates double, driven by concerns over safety and operational disruptions. Despite these challenges, some indices indicate that shipping flows have not yet been severely impacted, although the situation remains volatile. As Iran continues to signal its willingness to take aggressive action to protect its interests, including the possibility of mining the strait, analysts warn of significant ramifications for global oil supplies and trade routes should conflict escalate.