Middle East Oil Tanker Threat Hits Worst Level Since Iran War Began

The threat to oil tankers in the Middle East has reached its worst level since the start of the Iran war, according to analysts. The warning comes after a spate of attacks on vessels in the Red Sea, which some had been using as an alternative route since Iran blocked the Strait of Hormuz.

The number of ships passing through the strait is now at its lowest point since the conflict began, with just eight vessels on Sunday and 11 on Saturday, compared to over 100 per day before. The temporary peace deal struck in early June had led to a rise in numbers, but the resumption of strikes has significantly reduced traffic.

'In terms of threat to the trade of crude, we're at the worst period that we've been in since this crisis began,' said Matthew Wright, an analyst at Kpler. The Iranian-backed Houthi militia announced a blockade on Saudi Arabia's Red Sea ports on July 20 and several attacks have been reported in the past week.