Key facts
- Threats to oil tankers in the Middle East are at their worst since the Iran war, according to analysts.
- Traffic at the Strait of Hormuz has fallen to a two-month low due to intensified security concerns.
- Many vessels are using 'dark mode' or abandoning transits due to threats.
- The Houthi militia has threatened Saudi-linked shipments in the Red Sea and Bab el-Mandeb Strait.
- A very large crude carrier aborted an exit from the Persian Gulf after direct threats and hearing explosions.
Traffic at the Strait of Hormuz remains at the lowest in more than two months as security concerns have intensified with recent attacks on ships and persistent threats to shipping in the region. After a brief respite between mid-June and early July, traffic plunged to a two-month low as of the end of July and has not recovered, despite U.S. attempts to talk down oil prices and renewed talks with Iran. The security situation has deteriorated in the past two weeks, with Iran determined to exert control over vessels transiting the Strait of Hormuz and the Iran-aligned Houthis threatening Saudi-linked shipments in the Red Sea and the Bab el-Mandeb Strait. As a result, traffic at the Strait of Hormuz remained subdued, with many tanker owners using 'dark mode' to transit, abandoning efforts, or not risking transits at all. The Egypt Prosperity, a very large crude carrier, aborted an attempt to exit the Persian Gulf following direct threats over radio and reported explosions nearby. Analysts at security and vessel-tracking firms told the BBC that the threats to shipping in the Gulf and the Red Sea have escalated to the worst safety situation since the Iran war began. Restoring normal cargo flows through the Strait of Hormuz would take considerably longer, potentially three to four months, due to suspended services and redeployed ships.