Hormuz traffic thins as US-Iran strikes widen shipping threat
What's new: Only three commodity vessels crossed Tuesday, while Brent crude climbed above $100 as Red Sea tanker attacks added pressure.
Commercial traffic through the Strait of Hormuz fell again as U.S. and Iranian attacks extended into a 13th straight night and shipping risks spread beyond the Gulf. Kpler data cited by The Business Times showed just three commodity vessels crossed the strait on Tuesday, down from four a day earlier, with no visible very large crude carriers or liquefied natural gas tankers. In the Red Sea, two tankers carrying Saudi crude reversed course near Bab el-Mandeb after threats from Yemen's Houthi rebels, who also warned shippers against using Saudi ports. The disruption has raised fears over two critical energy chokepoints at once, helping push Brent crude above $100 a barrel as traders weighed a longer disruption to oil and gas flows.