Iran attacks more tankers in Hormuz as oil flows continue to rise

Investing.com -- Iran has stepped up attacks on tankers in the Strait of Hormuz in recent days as oil shipments through the waterway near prewar levels. UK Maritime Trade Operations reported nine attacks in the waterway this month, matching half the total reported for September across both the Strait of Hormuz and Persian Gulf.

Last month's figure included four assaults in the final two days, showing the recent increase in activity.

Vessels in Hormuz have faced attacks throughout the Iran war, with varying levels of intensity. Earlier strikes led to brief drops in shipments, though higher volumes in following days often offset these reductions.

Maritime security officials and shipping executives said it remains unclear whether the latest escalation will reduce Hormuz shipments. The effect on seaborne gas flows, which also rose in recent weeks, is also uncertain.

Several consuming nations announced plans last week to release millions of barrels of emergency stockpiles to ease market pressure. US President Donald Trump has been examining options to lower domestic fuel prices before midterm elections.

Most tankers passing through Hormuz use a corridor near the Oman coast. They typically cross with their digital signals turned off, forcing traders and analysts to rely on satellite images and shipping data to track supply movements.

Oil flow through the waterway has risen steadily since early summer. Last week, some Wall Street banks said shipments were nearing prewar levels. Top commodity traders said this week at the Energy Intelligence Forum in London that they see Middle East flows at around 80% of prewar levels. This helped bring Brent crude back below $100 a barrel.

Energy flows through Hormuz remain critical for oil and gas prices, especially before winter months in the Northern Hemisphere.

Original Article

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