Oil prices rise as Strait of Hormuz remains largely closed & Key Takeaways

A selection of today’s most relevant news in global logistics, international trade, transport, customs, and geopolitics — August 11, 2026.

Today’s Headlines

• Oil prices rise as Strait of Hormuz remains largely closed
• Amazon allocates $600M tariff refund to select consumers
• Armenia pushes to reclaim South Caucasus Railway from Russia
• Bulker Pilatus Marine refloated after grounding in Dardanelles
• Over 520,000 ghost companies operate in Spain without filings
• Bahri VLCC flotilla navigates new route to protect Saudi oil
• 3 tonnes of pregabalin seized at Turkish Ambarli port
• Marine underwriters expand high-risk zones after Houthi attacks
• MSC sets new freight rates from South Asia to Europe
• Iran rejects Oman’s proposal for Strait of Hormuz management
• EU ecommerce import fees cut freighter flights by 14%
• Ukraine’s Danube ports set to manage half of Black Sea cargo
• Brazil challenges US tariffs at WTO amid rising trade tensions
• Insolvencies in Spain stabilize while large company bankruptcies hit record
• EU mandates registration for Chinese PBAT and PBSeT imports

Today’s Analysis

⛽ Strait of Hormuz closure and Red Sea threats force Saudi oil diversions and raise insurance costs

Why it matters: Disrupted flows through the Strait of Hormuz and Red Sea are lifting oil prices and adding war-risk and delay costs to shipments.

• Oil prices rose as the Strait of Hormuz remained largely closed.
• Bahri sent a VLCC flotilla on a new route to protect Saudi crude from Houthi threats.
• Marine underwriters expanded high‑risk areas after Houthi attacks on Saudi tonnage.
• Iran rejected Oman’s proposal for joint management of the Strait of Hormuz.

Expect higher all‑in freight with war‑risk premiums and longer routings baked in. Reconfirm Incoterms, ask for war‑risk and deviation surcharges in writing, and build extra lead time or buffer stock for Gulf and Red Sea cargo.