Threat to oil tankers in Middle East worst since start of Iran war, analysts say

August 3, 2026

The Middle East shipping crisis has reached its worst point since the Iran war began, with threats now affecting both the Strait of Hormuz and Red Sea routes. The Strait of Hormuz, which previously handled about 20% of global oil and gas shipments, now sees only 8-11 vessels daily compared to over 100 before the conflict. Iranian-backed Houthi forces have escalated the crisis by attacking Saudi tankers in the Red Sea, an alternative route that ships had been using to bypass the blocked strait.

Who is affected

Oil tankers and shipping vessels transiting the Middle East
Tanker owners represented by Intertanko trade body
Global shipping companies like Hapag-Lloyd
Saudi Arabia (specifically tankers using Red Sea routes)
Asian countries importing crude oil through the region
Ship-tracking firms (Kpler, Xeneta)
UK Maritime Trade Operations agency
Iran and the United States
Oman (as intermediary in negotiations)

What action is being taken

Ships are turning off their transponders ("going dark") to avoid detection when crossing the strait
Houthi fighters are conducting attacks on Saudi tankers in the Red Sea
Iran is speaking with Oman about securing the shipping lane
The UK Maritime Trade Operations agency is reporting attacks on ships
Hapag-Lloyd is monitoring developments closely
Some vessels continue passing through the Red Sea despite risks

Why it matters

This crisis represents a severe disruption to global oil and gas supplies, as the Strait of Hormuz previously handled approximately 20% of the world's oil and gas shipments. The situation has created compounding problems, with both primary (Strait of Hormuz) and alternative (Red Sea) shipping routes now under threat simultaneously. The broadening and deteriorating security situation threatens freedom of navigation and global energy markets, affecting crude oil flows to major importers in Asia and creating uncertainty in commodity prices. The crisis demonstrates how geopolitical conflicts can severely constrain critical global trade infrastructure.

What's next

Hapag-Lloyd will adjust its network if circumstances change
If the Strait of Hormuz reopens, restoring normal cargo flows would likely take three to four months
Iran has indicated any agreement would not lift current restrictions while US "aggression" continues
Trump has canceled planned strikes on Iran based on potential for upcoming talks
Current negotiations with Oman could continue, though analysts warn they could be a "false start" without concessions

Read full article from source: BBC