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

The threat to oil tankers in the Middle East has worsened since the start of the Iran war, according to analysts. The warning comes after a series of attacks on vessels in the Red Sea, an alternative waterway used by some tankers.

Matthew Wright, an analyst at ship-tracking firm Kpler, said that the current threat is the worst since the crisis began. He noted that the number of ships passing through the Strait of Hormuz was just eight on Sunday and 11 on Saturday, compared to over 100 per day before the war started.

Many ships have been avoiding detection by turning off their transponders when crossing the strait. The temporary peace deal with the US in early June led to an increase in traffic, but the resumption of strikes between the two countries has significantly reduced it.

A recent spate of attacks by Yemen's Houthi fighters on Saudi tankers using the alternative waterway has further heightened the risks. Tim Wilkins, managing director of Intertanko, said that the industry is facing a 'broadening, deteriorating, and increasingly complex security situation'.