Downing Street said the Prime Minister spoke with Canada’s Prime Minister Mark Carney on 15 March 2026. The official readout highlights Middle East developments and the continued closure of the Strait of Hormuz affecting international shipping, with both leaders due to meet again on 16 March 2026. (gov.uk)
The UK readout places commercial navigation and supply routes at the centre of discussions. Independent reporting indicates the waterway has remained closed since late February, while analysts estimate that roughly one‑fifth of global oil typically transits Hormuz in normal conditions. (apnews.com)
The call comes as the International Energy Agency announced on 11 March that its 32 member countries will make up to 400 million barrels of oil available from emergency reserves to cushion market disruption from the regional war. Both the United Kingdom and Canada are IEA members. (iea.org)
Marine insurers have widened risk classifications across the Gulf. On 3 March, London’s Joint War Committee issued circular JWLA‑033 expanding Listed Areas for hull war, piracy, terrorism and related perils; market reporting shows sharply higher war‑risk premiums for vessels transiting Hormuz, particularly those linked to US, UK or Israeli interests. (lmalloyds.com)
Maritime security advisories have escalated in parallel. The Joint Maritime Information Centre set the regional threat level to critical on 6 March, and UKMTO has warned of a highly volatile environment spanning the Strait of Hormuz, the Gulf of Oman and adjacent waters, urging rigorous reporting and watchkeeping. (ukmto.org)
Energy markets have reflected the supply shock. On Monday 16 March, Brent crude traded above $100 per barrel, with prices fluctuating after opening above $106, underscoring the inflationary risk that policymakers in London and Ottawa must weigh alongside security considerations. (apnews.com)
UK business groups warn that higher energy costs could slow disinflation, while ministers have signalled support for coordinated measures to stabilise markets. The British Chambers of Commerce has cautioned that elevated oil prices are likely to push inflation higher through 2026. (uk.finance.yahoo.com)
For shipping and energy planners, the operational picture remains constrained. Limited bypass capacity via Saudi Arabia’s East–West pipeline to Yanbu and the UAE’s Abu Dhabi pipeline to Fujairah can only offset a portion of halted Hormuz flows, reinforcing the need for updated risk assessments, adequate war‑risk cover and adherence to official advisories. (apnews.com)
Attention now turns to the leaders’ meeting on 16 March 2026, where officials are expected to continue discussions on the conflict’s impact on shipping and wider bilateral issues. Further government readouts will indicate whether additional, coordinated steps on maritime security and energy market stabilisation follow. (gov.uk)