Tanker Flux: Navigating the Strait of Hormuz Amid Rising Tensions

The Strait of Hormuz is witnessing significant tanker disruptions following U.S. military strikes on Iran and increased regional violence. Ships are adjusting their routes amid fears of a potential strait closure by Iran, through which a significant portion of global oil and gas flows.

Washington's involvement in attacks on Iran alongside Israel has heightened concerns, predicting oil prices could potentially hit $100 per barrel, as industry experts note reduced tanker movements. Companies are minimizing time in the strait, with significant declines in both entry and departure of tankers reported by Sentosa Shipbrokers.

Several tankers, including the Coswisdom Lake and South Loyalty, have altered their courses to avoid prolonged presence in the area. Shipping companies and oil traders anticipate possible delays and are preparing for continued geopolitical tension affecting maritime operations in the Gulf.

(With inputs from agencies.)