The threat to oil tankers in the Middle East is at its most severe since the start of the Iran war, experts have stated, following a series of attacks on key shipping lanes. This assessment comes after multiple attacks targeted vessels in the Red Sea, a route some tankers had been utilizing as an alternative to the Strait of Hormuz, which Iran had previously blocked.
Analysts indicate that the current situation poses the most significant risk to crude oil trade since the crisis began. The number of ships transiting the Strait of Hormuz has drastically decreased, with only eight ships passing through on a recent Sunday and 11 on Saturday, a stark contrast to the over 100 vessels per day recorded before the conflict. Prior to the war, approximately 20% of the global oil and gas supply moved through this vital strait.
While a temporary peace deal in early June saw a slight increase in traffic, the subsequent resumption of hostilities between the U.S. and Iran about a month later led to a significant reduction in maritime activity. In response to the heightened risks, many vessels have resorted to "going dark," meaning they disable their transponders to evade detection while crossing the strait.
For a considerable period during the conflict, oil shipments from Saudi Arabia had been rerouted through the Red Sea, navigating the waterway between the kingdom and West Africa. However, recent assaults by Yemen's Houthi fighters on Saudi tankers utilizing this alternative route have further amplified the dangers for maritime transport in the region, creating a more complex and perilous environment for oil carriers.