Iran and its Houthi proxies have targeted at least 13 commercial vessels in the Middle East since the cease-fire with the United States ended earlier this month, according to United Kingdom Maritime Trade Operations (UKMTO) data. These attacks have disrupted vital shipping lanes, including the Strait of Hormuz and the Bab el-Mandeb Strait, leading to increased oil prices.
Since the escalation of tit-for-tat strikes with the U.S. began on July 6, Iran has attacked 11 ships attempting to transit the Strait of Hormuz. The Yemeni-based Houthi rebels have also attacked two Saudi tankers off the coast of Saudi Arabia, threatening traffic in the Red Sea and vowing to block Saudi ships from the Bab el-Mandeb Strait. This waterway oversees approximately 7% of the global oil supply.
While the number of attacked vessels represents a small fraction of the total traffic, the disruptions have been significant enough to slow maritime activity and force ships to either comply with Iranian demands or extend their voyages by weeks. Maritime tracker Kpler reported that between July 6 and July 22, 386 ships successfully crossed the Strait of Hormuz, with most opting for Iran's approved passage or employing evasive tactics. Only 13 vessels utilized a U.S.-backed Omani route, which has been targeted by Iran, with no ships openly choosing that passage on a recent Wednesday.
Overall, Iran has launched more than 30 attacks on commercial vessels since the conflict began on February 28, resulting in at least 17 mariner deaths in the Strait of Hormuz, according to the United Nations’ International Maritime Organization. Prior to the conflict, over 130 ships, carrying about 20% of the world's oil supply, transited the Strait of Hormuz daily.
The combined impact of the disruption in the Strait of Hormuz and the U.S. blockade on Iranian ports threatens the transit of more than 15 million barrels of oil per day. The Houthi attacks near the Bab el-Mandeb Strait, which handles approximately 4 million barrels of oil daily from Saudi Arabia, further exacerbate the situation.
Traffic along the Bab el-Mandeb Strait had remained steady in the week prior to a recent Houthi attack, with 44 to 53 ships crossing daily. However, traffic halved on the Thursday following the attack. While Saudi oil carriers can reroute through the Mediterranean and around Africa, this alternative adds millions in costs and extends transit times by approximately four weeks for large tankers.
The complications arising from these attacks have contributed to a surge in oil prices, with benchmarks exceeding $100 per barrel for the first time since May. The average price for a gallon of gasoline in the U.S. also rose to $4.10.