Iran's Blacklist Sparks Global Energy Market Concerns

Iran's new blacklist of 45 ships has sent shockwaves through the global energy market. At least three Indian oil refiners and a major energy company plan to stop using vessels on the list due to security concerns.

The blacklist was announced by Tehran on Sunday, with Iran threatening to fine, detain, and confiscate cargoes from non-compliant ships. The move is seen as an attempt to impede shuttle runs undertaken by Gulf oil producers such as Saudi Arabia and the UAE.

According to Ana Subasic, a trade risk analyst at shiptracking firm Kpler, compliance-sensitive buyers are likely to avoid using these vessels in the future. However, the trade may reroute through alternative tonnage or transfer locations rather than disappearing altogether.