Iran has stepped up surveillance and altered attack patterns in the Strait of Hormuz, causing a sharp fall in oil transit and escalating military tensions with the US.

Saudi Arabia shut down its East-West oil pipeline following a drone attack over Riyadh and Medina, halting millions of barrels of daily crude flow.

Foreign policy experts warn that any near-term diplomatic breakthrough to reopen the Strait of Hormuz will fail to secure the vital waterway long-term due to structural hostilities.

Singapore has strongly condemned recent Houthi drone and missile attacks on Saudi Arabian oil installations, urging restraint as Brent crude crosses $100 a barrel amidst escalating Red Sea tensions.

President Donald Trump warned of major military punishment against Iran if the Houthi blockade of the Red Sea continued, following strikes on two Saudi oil tankers.