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Mon, 03 Aug 2026

Mon, 03 Aug 2026 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 point since the Iran war began, experts warn, as a recent spate of attacks on vessels in the Red Sea raises concerns about global oil supplies. Only 8 ships passed through the Strait of Hormuz on Sunday and 11 on Saturday, compared to over 100 per day before the conflict. This key waterway handles around 20% of the world's oil and gas shipments. Ships carrying oil from Saudi Arabia have been using an alternative route in the Red Sea but attacks by Yemen's Houthi fighters have further increased the risks. The Iranian-backed militia has announced a blockade on Saudi ports in the region, and several ships have been attacked in recent days. The global shipping industry is facing a "broadening, deteriorating, and increasingly complex security situation," according to Tim Wilkins, managing director of Intertanko. Many vessels are now turning off their transponders to avoid detection when passing through high-risk areas. Oil prices fell sharply after US President Donald Trump said he would cancel planned strikes on Iran in the event of talks. However, experts warn that any deal to reopen the Strait of Hormuz would need the involvement of the US and could be a "false start" without concessions from both sides. The situation has been described as "terrible" by Peter Sand, chief analyst at Xeneta, with the shipping industry "back to square one." The lack of clarity and change in fortunes is causing concern for oil traders and consumers alike.