Tension in the Strait: Supertankers on Edge Amid Rising Middle East Conflict

Amid U.S. military strikes on Iran, supertankers near the Strait of Hormuz are changing course, causing oil prices to surge. Concerns over possible Iranian retaliation and potential disruption of global oil supply have led to increased shipping costs and cautious navigation by shipowners.

Supertankers are making abrupt course changes near the Strait of Hormuz, as tensions escalate due to U.S. military actions against Iran. Shiptracking data reveals these maneuvers, with fears of an Iranian retaliation threatening crucial oil and gas supply routes.

Oil prices have climbed, with Brent and West Texas Intermediate hitting new highs, as investors worry about supply disruptions. Shipping rates for supertankers have also doubled amid the geopolitical instability.

Shipowners are minimizing time spent in the Strait, a strategic chokepoint for global oil transport. Diversifying supply sources and observing past disruptions are seen as critical measures as the situation remains volatile.

(With inputs from agencies.)