Macron said he will work with Gulf states under the G7 framework to seek alternative energy supply routes that bypass the Strait of Hormuz.

India raises windfall tax on diesel exports to 14 rupees per litre and imposes an export tax on aviation turbine fuel (ATF) of 12.5 rupees per litre for the next two weeks.

Ship-tracking data show Disha, an LNG tanker trapped in the Persian Gulf for more than three months, is moving toward the Strait of Hormuz. Disha is currently north of the UAE and approaching Oman; it loaded LNG from Qatar’s Ras Laffan facility around March 1 and had been unable to depart until now. The US and Iran say they reached an agreement to reopen the strait, but details remain unclear; owners and traders remain cautious and other shipping activity around the strait appears constrained.