Iranian attacks on vessels transiting the Strait of Hormuz have surged,
potentially threatening the recent rebound in Persian Gulf oil exports. Shipping
sources say cargo volumes via the strait earlier this month recovered close to
pre-conflict levels, but recent signs point to a possible slowdown. There is no
clear evidence that crude loading at several major producers has changed, and
one owner said ship transits appear unrestricted. Aggregated tanker-tracking
data show more than a dozen VLCCs and several Suezmaxes turned back or altered
course near Fujairah, a major hub at the entrance to the strait. Brokers and
some owners report additional slowdowns, notably longer wait times for
ship-to-ship transfers, though an STS operator said his business had not been
affected.
