Updated

Iran's security chief Mohsen Rezaei said Tehran will announce a restricted zone and a new shipping route around the Strait of Hormuz in the coming days. The move follows US strikes on Iranian oil tankers, which Washington said were carried out in response to Tehran's attacks on shipping in the region. Qatar has since warned of an 'industrial catastrophe' if the crisis continues, as data from Kpler shows an average of just 10 ships transited the Strait of Hormuz daily over the past 10 days, the lowest level since May, underscoring the mounting economic toll of the standoff on regional and global trade.