Live: Tensions escalate in West Asia as Iran reports 11 fatalities from U.S. air strikes

Ship-tracking data indicates that three liquefied natural gas shipments originating from Qatar and the United Arab Emirates were transferred directly between vessels outside the Strait of Hormuz in recent weeks, destined for buyers in India and Japan. Commercial maritime traffic in the critical Hormuz corridor has encountered multiple security threats since hostilities involving the U.S., Israel, and Iran erupted on February 28. While most LNG carriers navigating the narrow waterway have dispatched their supplies straight to destination ports, ship-to-ship (STS) transfers remain a rare practice for gas shipments compared to crude oil transport.

Iranian state media announced that American strikes targeting locations inside the country have resulted in 11 deaths, following recent bombardments in the southwestern region of Khuzestan. Official broadcasting outlets reported that the fatalities stemmed from the latest round of U.S. military action, which featured missile strikes in Khuzestan province.

Early maritime tracking data revealed that only four commercial commodity vessels navigated through the Strait of Hormuz, falling from 10 ships the previous day and remaining well below the 10-day mean of roughly 13 daily transits. Initial findings from maritime data provider Kpler recorded at 0200 GMT indicated that the four transiting ships comprised one very large crude carrier, one Panamax tanker, one Kamsarmax carrier, and an intermediate tanker. Out of these four ships, a single vessel was entering the strait while three were exiting the waterway. Analysts noted that these transit totals could undergo revision since several ships routinely turn off their location transponders while travelling through the zone.

Domestic equity benchmark indices Sensex and Nifty recorded sharp losses in morning sessions, influenced by weak international stock markets and rising crude prices caused by worsening West Asia hostilities. The 30-share BSE Sensex dropped by 788.52 points to hit 76,155.76 during early trading hours, while the 50-share NSE Nifty tumbled 269 points to reach 23,786.80. Key stocks driving the Sensex downturn included InterGlobe Aviation, Eternal, Mahindra & Mahindra, UltraTech Cement, Bajaj Finserv, and Bajaj Finance.

Global oil prices gathered further upward momentum in morning dealings, expanding on earlier gains as fears over potential supply chain disruptions grew following overnight exchanges of military strikes between Washington and Tehran, lowering expectations of a swift diplomatic resolution in the Middle East. By 0345 GMT, Brent crude futures advanced by 75 cents (0.8%) to reach $95.40 per barrel, whereas U.S. West Texas Intermediate futures increased 44 cents (0.5%) to trade at $90.66 per barrel. Market experts at ING noted in a client assessment that recent developments have reignited fears surrounding Middle Eastern oil deliveries, pointing out that while tankers continue moving through the Strait of Hormuz despite the U.S.-Iran standoff, escalating conflicts present clear risks to maritime transits.

Iran pressed on with offensive operations against U.S. positions across West Asia, warning of heavy repercussions for American bombardments, including a strike that the Iranian Red Crescent reported killed four individuals at a wedding function. This escalation forms part of an ongoing chain of retaliatory measures triggered by U.S. actions against Iran, extending clashes around the Strait of Hormuz to Gulf nations allied with Washington, military installations, and commercial maritime vessels. Iranian media outlets stated that Tehran dispatched ballistic missiles aimed at a pair of U.S. bases situated in Jordan. Although U.S. President Donald Trump previously warned of significantly more severe action should Tehran strike back against U.S. raids, Washington did not issue an immediate statement regarding the reported missile hits.

Iranian official media reported that American strikes on sites inside the nation have claimed 11 lives, following a recent strike in Khuzestan province located in the southwest. State news agency IRNA quoted the Deputy Governor of Khuzestan Province for Security and Law Enforcement Affairs as saying that last night's U.S. missile strikes targeted three locations within the province, resulting in seven fatalities and eight injuries.