Since hostilities began on February 28, at least 10 vessels have been attacked in the Strait of Hormuz, leading to fears of casualties among seafarers. The US is offering navy escorts and a $20 billion insurance program for oil tankers, but many vessels remain idle. The Gulf is crucial for global oil, gas, and fertilizer exports, and disruptions are causing inflation, particularly in fertilizer prices. Experts warn that prolonged hostilities could lead to higher food prices and impact food security, although immediate effects are expected to be limited.