UN pauses Strait of Hormuz evacuation plan after cargo ship attack as oil prices decline

The UN's International Maritime Organization (IMO) has temporarily halted its evacuation efforts for over 11,000 sailors stranded in the Strait of Hormuz. This decision followed an attack on a cargo ship transiting the vital waterway. IMO chief Arsenio Dominguez stated the pause was necessary to ensure "necessary safety guarantees" remained in place, despite some evacuations already having occurred. Concurrently, global oil prices have continued their decline, reaching levels last observed before the recent conflict involving Iran. Brent crude briefly fell below $72.48 a barrel, a price point from February 28, attributed to the ongoing, albeit now complicated, resumption of shipping traffic through the Strait.

Sources: BBC News