Significant tensions in the Middle East following three Iranian missile strikes emphasise the growing risks to maritime shipping.
The attacks provoked angry comments from US President Trump, who threatened to "finish the job" unless a deal is struck. Tehran has said that negotiations on a final deal will not resume until the US stops its threats.
The Qatari Foreign Ministry condemned the attack on one of its vessels as aggressive threats to international navigation and global energy security. While UAE oil exports have rebounded to 5 Mn bpd, and Saudi Arabia's Yanbu port achieved record levels of crude oil exports at 4.83 Mn bpd, shipping transits in the Strait of Hormuz remain precarious, having returned to a third of pre-war levels.