Oil Ships in Danger as Middle East Tensions Rise

The Gulf’s waterway, a lifeline for global oil and gas, is now a hotspot as attacks on ships grow more frequent. A Bahamas‑flagged tanker near Iraq’s Khor al Zubair port was struck by an Iranian explosive boat, while another anchored off Kuwait suffered a massive blast that leaked oil. These incidents mark the ninth vessel hit since Saturday’s flare‑up between the U. S. , Israel, and Iran. Iran has launched missiles at Israel and sent drones into Azerbaijan, injuring four people. The conflict escalated after a U. S. move to stop attacks was rejected, and the succession of Iran’s leadership suggests the country is not backing down. Roughly 200 ships, including oil and LNG carriers, are idling in open waters off major Gulf producers. Hundreds more cannot enter the Strait of Hormuz, a critical route for about 20 % of worldwide oil and gas supplies.

BP pulled its foreign staff from Iraq’s Rumaila field after unidentified drones landed there. Baghdad has cut oil output by nearly 1. 5 million barrels a day because storage is full and tankers cannot load. The result: oil prices have jumped about 3 % on Thursday, adding to a 14 % rise since the conflict began. European gas prices have surged, with one benchmark climbing over 5 % to 51. 30 euros per megawatt‑hour. Russia’s president warned he could stop gas to Europe, while Qatar halted production earlier this week. The U. S. and Australia have limited spare capacity to replace lost supplies, making the EU’s plans to refill storage riskier and costlier. Asian importers feel the strain too; China has urged refiners to cancel existing fuel contracts and avoid new ones. The situation shows how quickly regional tensions can ripple through global markets, turning a localized conflict into an economic shock that touches oil prices, gas supplies, and everyday energy costs.

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