S&P Global Energy says renewed tanker attacks have reduced insurers' willingness to cover vessels in the Strait of Hormuz, driving war-risk surcharges on hull value from 1–3% a few weeks ago to 7.5–10%. Some oil tanker operators are remaining outside the strait rather than risk transit. Commercial traffic has collapsed—10 ships transited on Tuesday versus more than 130 per day before the outbreak of the Middle East war.

2026-07-23

S&P Global Energy says renewed tanker attacks have reduced insurers' willingness to cover vessels in the Strait of Hormuz, driving war-risk surcharges on hull value from 1–3% a few weeks ago to 7.5–10%. Some oil tanker operators are remaining outside the strait rather than risk transit. Commercial traffic has collapsed—10 ships transited on Tuesday versus more than 130 per day before the outbreak of the Middle East war.