Saudi Oil Tankers Bombed in Strait of Hormuz, Global Supplies at Risk

Two supertankers carrying Saudi oil were bombed within minutes of each other while transiting the Strait of Hormuz, resulting in an estimated loss of 4 million barrels of crude. The vessels had loaded 2 million barrels each at the Juaymah terminal last week.

The incident has raised concerns about the safety and security of global oil supplies, particularly through this critical chokepoint. Prior to the Middle East war, the Strait of Hormuz carried around a fifth of global oil supplies.