Iran conflict disrupts some Middle East oil, fuel assesements from reporting agency Platts

Group 1 - S&P Global Platts has suspended bids and offers for price assessments of Middle East refined products due to shipping disruptions caused by the U.S.-Iran conflict [1] - The suspension affects the Market on Close assessment process for refined products that transit through the Strait of Hormuz, a critical waterway for oil shipments [1] - Platts is also reviewing its Middle East crude pricing mechanism and the deliverability of crude from Gulf ports, with an announcement expected at 2 p.m. (0600 GMT) [1] Group 2 - The Strait of Hormuz is vital for global oil supply, with approximately one-fifth of global demand transiting through this narrow waterway daily [1] - Major shipping companies have halted transit through the Strait of Hormuz due to heightened safety concerns following air strikes on Iran by Israel and the U.S. [1] - Platts' daily Dubai crude oil price assessment serves as a benchmark for traders and oil companies, influencing the pricing of millions of barrels of Middle Eastern crude and derivatives [1]