Ship traffic in the Strait of Hormuz has decreased to 13 vessels due to intensified conflicts in the region. This reduction in traffic comes as recent tensions between Iran and the United States have led to an increase in Brent crude oil prices to over $105 per barrel.
Attack on Commercial Vessel
On Sunday, a fire broke out on the Panama-flagged commercial vessel MT El Gaia. The ship was attacked while passing the coast of Oman, resulting in the disappearance of one of its sailors. While no party has officially claimed responsibility for the attack, the United States and Iran have exchanged conflicting statements regarding the cause of the incident.
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The Islamic Revolutionary Guard Corps of Iran has stated that the ship hit a naval mine. However, the United States Central Command (CENTCOM) has rejected this claim, stating that the ship had previously been disabled by an Iranian missile attack and was then attacked by an Iranian drone while in Omani waters.
Impact on Oil Trade
Meanwhile, the United States and Oman have canceled a scheduled meeting to discuss appropriate methods for reopening the Strait of Hormuz. According to reports, only 13 vessels successfully passed through the strait on Sunday, of which 10 entered and 7 exited. Among these, two vessels moved as “dark duration.” While the volume of traffic on Sunday increased compared to the previous week, it still does not reach the pre-war daily average of 140 crossings.
The intensification of conflicts in the region, especially with the attack on military facilities at King Khalid Air Base in Khamis Mushait, Saudi Arabia, has raised further concerns for the oil market. The Iran-aligned Houthi group in Yemen has indicated the use of dozens of ballistic missiles and drones in these attacks and has stated that they will continue their attacks deep into Saudi Arabia.
This development comes as the 1,200-kilometer East-West pipeline in Saudi Arabia has been shut down due to Houthi attacks. This pipeline transports about 70 percent of Saudi crude oil exports through a marine terminal in Yanbu to avoid the Strait of Hormuz. In recent months, the situation has significantly worsened, as the Houthis announced that they have established a maritime blockade on Saudi Arabia, leading to the escalation of U.S.-Iran conflicts to the gates of the Red Sea.
On September 11, 466 Saudi-flagged vessels were active in the Red Sea, with 461 of them operating exclusively in Saudi territorial waters and five others located in Egyptian waters. This shift is seen as an indication that Saudi-flagged shipping is seeking safe haven in national waters in response to the escalating conflicts in the Red Sea.
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