Strait of Hormuz likely a high-risk zone again

Maritime authorities have raised the security risk for vessels transiting the Strait of Hormuz from “substantial” to “severe” after attacks on a Qatari LNG tanker and a Saudi crude oil tanker near the strategic waterway. The move reflects concerns that further hostile actions against commercial shipping are likely. The attacks have renewed fears about the safety of energy shipments, pushing oil prices higher and increasing shipping and insurance costs. Some tankers have already altered course or turned back due to heightened security concerns, as per reports. The incidents have strained a fragile understanding between Washington and Tehran that had helped reopen the Strait after recent conflict-related disruptions. The latest tanker attacks have thus transformed the Strait of Hormuz from a cautiously recovering shipping corridor into a high-risk zone once again, the reports added.

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