Recently, Israel launched strikes against Iran, targeting nuclear facilities, missile factories, and military leaders, stating the operation would continue “as long as necessary.” In response, Iran vowed severe retaliation, deploying over 100 drones to strike Israel.
The UK Maritime Trade Operations reported no current threats to commercial shipping from Iran but cautioned about potential escalation. They highlighted risks from Houthi forces in Yemen, linked to Iran, increasing regional tensions.
Global oil prices surged as markets reacted to threats against vital shipping routes. Vanguard noted that while there’s no immediate maritime threat, heightened military activities have raised concerns in the Hormuz and Gulf of Oman areas. According to Jefferies, the Middle East accounts for a significant portion of global oil trade—40% of crude, along with substantial shares of LPG and LNG.
SEB, a Swedish bank, commented that while short-term impacts might favor tanker operations, long-term effects could be detrimental due to anticipated demand disruptions from rising oil prices. Industry expert Lars Jensen indicated that the risk of a partial closure of the Strait of Hormuz could lead to price increases, as seen when Iran previously seized the MSC Aries.
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