Hormuz oil route: October brings the most attacks on ships since the war began
With more than 120 attacks reported so far, October is the worst month for shipping since the war began, according to Al Jazeera. The US blockade is curbing Iran's oil exports.
Symbolic image · Photo: U.S. Navy photo by Mass Communication Specialist 3rd Class Jonathan Sunderman / Wikimedia Commons, Public domain (cropped and resized)
The Strait of Hormuz remains the oil market's main pressure point. According to Al Jazeera on October 25, October is the worst month for attacks on ships since the war began in February, with more than 120 attacks reported so far. Iran said seven oil tankers caught fire or were damaged in and around the strait last week, claims that have not been independently verified.
Added to this is pressure from the US naval blockade of Iranian ports, which CBS News, citing AP, said on October 25 is restricting the oil exports Tehran's government depends on. US Ambassador to the UN Mike Waltz said in an interview with the Financial Times published on October 23 that the US Navy could maintain the blockade for the foreseeable future, CBS reported. Saudi Arabia is turning to overland routes: the capacity of the East-West pipeline has risen from 2 million to 7 million barrels per day, Aramco CEO Amin Nasser told Al Arabiya Business, according to CBS (October 23).
Observers fear attacks could spread to energy facilities in the coming weeks. Axios reported in early October, citing sources and as cited by Al Jazeera, that a renewed US campaign could hit Iranian energy facilities, infrastructure and nuclear sites; that is not an order to attack. "Iran is also drawing up its own target lists to include energy infrastructure and US-aligned states," said Julie Norman, an associate fellow at the Chatham House think tank. For context: on October 23, Brent rose 3.5 percent to more than $117 a barrel, its highest since March, up from under $97 at the start of October, according to AP/CBS.