Middle East Shipping Risks Hit Worst Levels Since Iran War Began

The threat to oil tankers in the Middle East has reached its worst levels since the start of the Iran war, according to experts. The warning comes after a spate of attacks on vessels in the Red Sea, an alternative waterway used by some tankers since Iran blocked the Strait of Hormuz.

Kpler analyst Matthew Wright said that 'in terms of threat to the trade of crude, we're at the worst period that we've been in since this crisis began.' The number of ships passing through the Strait of Hormuz has dropped significantly, with just eight vessels on Sunday and 11 on Saturday, compared to more than 100 per day before the war.

The temporary peace deal between the US and Iran led to a brief increase in traffic, but the resumption of strikes has reduced it again. Many ships have been 'going dark' when crossing the strait, turning off their transponders to avoid detection. The recent attacks by Yemen's Houthi fighters on Saudi tankers using an alternative shipping lane in the Red Sea have further heightened the risks.

Tankers are facing a broadening and deteriorating security situation, with the high-risk area extending into parts of the Red Sea. The number of commodity vessels passing through the Bab el-Mandeb strait has dropped to 28 on Saturday, with six having their transponders turned off to avoid detection.