Supertankers Make U-Turns In Strait Of Hormuz Amid Rising Tensions
Supertankers Make U-Turns In Strait Of Hormuz Amid Rising Tensions...
At least five oil supertankers abruptly changed course away from the Strait of Hormuz on Friday, according to shipping data, as regional tensions escalate following Iran's seizure of a vessel earlier this week. The sudden rerouting highlights growing risks to global oil supplies through the critical chokepoint, which handles 20% of the world's seaborne crude.
The vessels, including the 300,000-ton VLCC Atlantas, turned around near Oman after Iran's Revolutionary Guards boarded the MSC Aries on April 10. U.S. officials confirmed the detained ship had ties to Israeli billionaire Eyal Ofer, raising concerns about retaliatory actions. Brent crude prices rose 1.8% to $91.42 per barrel following the developments.
Maritime security firm Ambrey reported unusual ship movements since Thursday night, with at least two tankers opting for the longer Cape of Good Hope route. The diversions add roughly 15 days to Asia-bound voyages and increase shipping costs by $1 million per trip. Analysts warn sustained disruptions could push U.S. gasoline prices higher ahead of summer driving season.
The White House called Iran's actions "a threat to maritime security" during Friday's press briefing, while Pentagon officials confirmed heightened patrols by the USS Dwight D. Eisenhower carrier group. Satellite imagery showed increased Iranian naval activity near the strait's narrowest point, where two U.S. Navy destroyers are currently positioned.
Energy markets are particularly sensitive to Hormuz disruptions after the 2019 tanker attacks and 2021 hijacking incidents. Approximately 17 million barrels of oil pass through the 21-mile wide strait daily, with Saudi Arabia, Iraq, and UAE accounting for 85% of shipments. The American Automobile Association warned consumers could see pump price impacts within 10 days if the situation worsens.
Shipping companies Maersk and Euronav have advised clients of potential delays, with some charterers reportedly paying premium rates for non-Middle East crude. The developments come as the U.S. House prepares to vote next week on new sanctions targeting Iranian oil exports. Market watchers will monitor whether additional vessels avoid the route over the weekend.
Friday's tanker movements mark the most significant shipping disruption in the strait since January 2023, when U.S. forces intercepted an Iranian oil seizure attempt. The latest incident has renewed debate about strategic oil reserve releases, with Energy Secretary Jennifer Granholm scheduled to meet with refiners on Monday.
