A Vietnamese floating guard station is seen on Truong Sa islands or Spratly islands in this April 12, 2010 picture. REUTERS/Stringer/File Photo
SINGAPORE (Reuters) - Global oil and shipping markets reacted nervously on Tuesday after an international arbitration court ruled against Beijing's claims across large swathes of the South China Sea, fuelling geopolitical tensions in the vital waterway.
A tribunal in The Hague, Netherlands, found China had breached the sovereign rights of the Philippines and had no legal basis to its historic claims in the South China Sea, a major shipping lane between Europe, the Middle East and Africa.
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