A Kuwaiti oil tanker was hit near the Strait of Hormuz off Dubai, according to multiple reports, as tensions in the Middle East continue to disrupt global energy markets and trade routes.

The incident occurred amid broader regional conflict involving Iran, with reports of military exchanges affecting critical shipping lanes. The Strait of Hormuz is a vital chokepoint for global oil shipments, handling approximately one-fifth of the world's petroleum liquids.

The ongoing Middle East crisis is creating ripple effects across global markets. Aluminum prices are heading toward a 10% monthly surge due to supply disruptions, while energy shocks are sending bond yields higher across Asian markets. Multiple countries are experiencing fuel shortages, with drivers in Myanmar reportedly queuing for hours at gas stations.

Major corporations are responding to the escalating situation. Consumer goods giant Unilever has imposed a global hiring freeze for at least three months, citing effects from the Middle East war, according to an internal memo. The company's decision reflects growing corporate concerns about economic stability amid the regional conflict.

Meanwhile, separate incidents involving energy infrastructure continue. Ukrainian drones reportedly damaged Russia's Ust-Luga port again, according to regional officials, highlighting how multiple conflicts are simultaneously affecting global energy supplies.

Despite the widespread disruptions, some economic indicators show resilience. China's manufacturing activity returned to growth, marking the fastest expansion in a year, though analysts note that war risks continue to loom over the recovery.