Record wave of attacks on vessels in the Strait of Hormuz slashes oil flow

In the latest surge of hostilities, 24 vessels have been struck near the Strait of Hormuz within a fortnight, according to data from the UK Maritime Trade Operations. Sunday alone saw six ships hit, marking the most intense day of tanker and cargo attacks since the war started on Feb. 28. From Oct. 1 to Oct. 11, 18 ships were confirmed hit, with six further incidents.

Iranian media released footage of burning tankers, while the Islamic Revolutionary Guard Corps warned that vessels turning off transponders would be deemed illegal oil smugglers and targeted. The Institute for the Study of War warned that Iran’s anti-ship missile proficiency is likely advancing, suggesting future attacks could intensify. Oil flow through the strait dropped to roughly 2.9 million barrels per day during the latest strikes, a 43% decline from pre-war levels, keeping Brent crude above $105 per barrel and U.S. gasoline prices above $4.31 per gallon.