Attacks on vessels in the Strait of Hormuz rise, with 37 incidents in October, impacting global shipping and oil prices.
The continuation of attacks on commercial vessels in the Strait of Hormuz has raised concerns in global maritime shipping and energy markets. In October, 37 ships were attacked in the region, and in the first 11 days of November, 10 attacks were recorded. The price of Brent crude oil rose to $92.53 per barrel.
Despite the strengthening possibility of a diplomatic solution between the U.S. and Iran, attacks targeting tankers in the Strait of Hormuz continue. According to a Reuters report dated November 11, increasing security risks in the region have caused oil prices to rise again from their lowest level in two months.
The price of Brent crude oil increased by 1.1% to $92.53, while U.S. West Texas Intermediate (WTI) crude rose by 0.8% to $86.71.
According to data from the Washington Institute for Near East Policy, 37 ships were attacked in the maritime routes around the Strait of Hormuz in October. This figure represents the highest monthly number of attacks recorded since the onset of the war in the Middle East.
So far in November, 10 attacks have occurred. The increasing attacks have deepened concerns regarding the safe passage of oil tankers through the region.
Images confirmed by Reuters showed a tanker operated by Navig8 on fire near the coast of Oman.
Iranian state television reported that the tanker was one of three vessels targeted for using an unauthorized route in the Strait of Hormuz on Sunday.
The United Kingdom Maritime Trade Operations (UKMTO) also announced on Tuesday that a tanker was attacked northeast of the Lima region in Oman.
The Iranian Revolutionary Guard Navy stated that two tankers caught fire after hitting naval mines in a route they deemed unauthorized.
Maritime and energy market analysts caution that a potential agreement between the U.S. and Iran may not be sufficient to immediately normalize shipping traffic in the Strait of Hormuz.
According to assessments by LSEG Oil Research analysts, for oil shipments to increase again, naval mines need to be cleared, insurance costs must decline to acceptable levels, and shipowners must be willing to assume the risk of passage through the region.
Analysts emphasize that attacks on vessels have not slowed down despite diplomatic initiatives.
Security issues in the Strait of Hormuz continue to pose a serious risk for shipowners engaged in the transportation of oil and petroleum products.
Due to the attacks in the region, the safety of navigation for ships, war risk insurances, and alternative shipping routes have regained importance, while oil markets fluctuate between diplomatic developments and news regarding maritime security.
Source: SeaNews Türkiye
