At least 11 tankers have been targeted by drone and missile strikes in and around the Strait of Hormuz since last week, including four incidents reported over the past two days, highlighting the fragility of energy trade routes through the region. The Strait, a crucial artery for global oil shipments, has seen increasing violence amid escalating tensions in the Middle East.
The flurry of attacks comes as Yemen’s Saudi-backed government announced a major offensive against the Iran-supported Houthi militia on Sunday, following recent Houthi strikes on key Saudi oil infrastructure. These developments signal a deepening conflict in a region vital to the world’s energy supply.
United States military forces have been providing protection to vessels navigating the Strait of Hormuz, a strategic chokepoint that Iran has asserted control over since a U.S. and Israeli operation targeted the area more than seven months ago. The ongoing instability has raised concerns about the potential closure of this critical passage.
Speaking at London’s Energy Intelligence Forum on Monday, Amin Nasser, chief executive of Saudi Aramco, described the sustained disruption of the energy route as unprecedented. He noted the global consequences of disruptions to the supply chain, emphasizing that current worldwide oil stockpiles were “scarily thin” and that replenishing national inventories might take up to two years.
Despite continued attacks, including a missile and drone strike on a Saudi Aramco facility in Riyadh over the weekend, Mr. Nasser sought to minimize the impact. He stated that the company’s systems remained intact and that all customer demands were being met. He also referred to prior damage to Saudi Arabia’s East-West pipeline caused by a drone attack last month but declined to detail its extent, noting the pipeline was temporarily offline but operational needs were being satisfied.
The increased frequency of attacks on commercial shipping has been interpreted by maritime risk experts as a deliberate strategy by Iran to reaffirm control over the Strait of Hormuz. Dimitris Maniatis, founder of maritime risk consultancy Marisks, characterized the recent Iranian assaults as indiscriminate and aimed at instilling fear to dominate the area. He suggested that these actions might be designed to test and overwhelm U.S. naval protection capabilities.
Further incidents occurred on Monday, with an unidentified projectile striking a tanker in the Strait, according to the United Kingdom Maritime Trade Operations. The resulting fire, which affected the vessel’s engine room, was being managed by the crew. Analysts warned that damage to a ship’s essential systems in this confined maritime corridor could lead to disabled vessels and significant disruption.
Oil market responses have so far been moderated by increased exports from the Persian Gulf, which have reached their highest levels since the war's outset, keeping Brent crude prices relatively stable around $102 per barrel. Nonetheless, the Group of Seven nations announced a coordinated release of emergency diesel and crude reserves intended to alleviate supply pressures over the next four months. Japan, having already tapped into its stockpiles, indicated no plans for further releases.
The complexities of moving oil out of the region have fundamentally changed due to the conflict. Pipelines have gained prominence as alternatives to shipping through the Strait, while tactics such as vessels traveling without transponders or in “dark” modes to evade attacks have become commonplace. The increased use of multiple, longer shipping routes has added substantial costs to oil transportation.
“We have clearly entered the new and far from normal times,” Mr. Nasser said, underscoring the volatile conditions shaping global energy markets.