(qlmbusinessnews.com . Mon 2nd Mar, 2026) London, UK —
Iran Attacks Tankers in Strategic Waterway, Threatening Global Oil Supply and Prices
Three ships have fallen victim to attacks close to the Strait of Hormuz amid escalating strikes by Iran across the Middle East, a response to continuous aggression from the US and Israel.
The UK Maritime Trade Operations Centre (UKMTO) reported that two of the vessels were directly hit, while a third was alarmingly close to an explosion caused by an “unknown projectile”. The Strait of Hormuz, a critical juncture through which approximately 20% of the global oil and gas supply passes, has seen a warning issued by Iran against ships considering passage.
The movement of international shipping has been severely impacted at the entrance to the strait, with the looming threat of disruption leading to an increase in oil prices worldwide.
Iran's Islamic Revolutionary Guards Corps (IRGC) claims that missiles have struck and set ablaze three tankers originating from the UK and the US, though neither country has issued a response to these claims.
Amidst this turmoil, the UKMTO has acknowledged several “multiple security incidents” in the Arabian Gulf and Gulf of Oman, advising vessels to proceed with extreme caution.
According to Kpler, a ship-tracking platform, around 150 tankers are currently anchored in the open waters of the Gulf, beyond the Strait of Hormuz, with a select few Iranian and Chinese vessels navigating through today. Kpler’s Homayoun Falakshahi highlighted the effective closure of the strait due to Iranian threats, pointing out the escalated risk and insurance costs deterring vessels from entering.
While the US might attempt to secure shipping lanes to prevent a significant rise in oil prices, the prolonged closure of the strait could lead to drastically higher prices.
The UKMTO reports the targeting of two unidentified vessels by unknown projectiles, resulting in fires. Another close explosion was reported near a third vessel, whose crew, thankfully, remain safe and well. A fourth incident involved a crew evacuation, though the specifics remain uncertain.
Vanguard Tech, a private maritime security firm, has noted incidents involving ships flagged to Gibraltar, Palau, Marshall Islands, and Liberia, echoing the UKMTO's reports.
In reaction, the Danish container shipping giant Maersk announced it will temporarily halt sailings through the Bab el-Mandeb Strait and the Suez Canal, opting to reroute around the Cape of Good Hope instead.
This series of events follows recent aerial exchanges between Iran and Israel, after US-Israeli actions led to the death of Iran’s Supreme Leader Ayatollah Ali Khamenei, triggering retaliatory strikes across multiple Middle Eastern nations.
The impact on oil prices, though not officially reflected until markets open, is anticipated significantly with private trading indicating a 10% surge to $80 (£59) a barrel. This could rise above $100 if the conflict endures.
Despite the Opec+ group’s agreement to up their oil output by 206,000 barrels a day, analysts remain skeptical about its effectiveness against the anticipated price surges.
Edmund King, the AA president, has voiced concerns over the global repercussions on petrol prices due to unrest and disruption in oil distribution across the Middle East, stating, “The turmoil and bombing across the Middle East will surely be a catalyst to disrupt oil distribution globally, which will inevitably lead to price hikes. The magnitude and duration of pump price increases depends on how long the conflict goes on.”
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