Threat to oil tankers in Middle East worst since start of Iran war, analysts say
Fresh attacks on alternative shipping routes have left tankers facing an increasingly complex situation, analysts say.
The threat to oil tankers in the Middle East has reached its worst level since the Iran war began, according to experts. This is due to a series of attacks on ships in the Red Sea, an alternative shipping route used after Iran blocked the Strait of Hormuz. Iran has denied claims of talks with the US regarding reopening the strait, but has stated they are speaking with Oman about securing the shipping lane.
Matthew Wright, an analyst at Kpler, stated that the threat to crude trade is at its worst since the crisis began. The number of ships passing through the Strait of Hormuz dropped to just eight on Sunday and 11 on Saturday, compared to over 100 per day before the war. Some ships have been turning off their transponders to avoid detection.
Houthi fighters, backed by Yemen, have attacked Saudi tankers using the Red Sea route, further increasing the risks. The industry is facing a broadening, deteriorating, and increasingly complex security situation, with the number of vessels passing through the Bab el-Mandeb strait at 28 on Saturday, with six having their transponders turned off.
Despite the talks with Oman, a deal has not been imminent, and oil prices fell after Trump canceled planned strikes on Iran.
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