Ship traffic through the Strait of Hormuz experienced significant volatility over the weekend following a series of attacks on commercial vessels, highlighting ongoing security risks in the critical sea lane [1]. According to LSEG data, at least 20 ships, including the large oil tanker FPMC C Lord carrying 2 million barrels of Saudi crude to Taiwan, transited the strait on Saturday [1]. However, after the attacks, traffic slowed to a near standstill on Sunday, with only a slight uptick to seven ships crossing on Monday [1].
The security situation escalated when Iran's Revolutionary Guard fired on a tanker and an unknown projectile struck a container ship, both reportedly Indian-flagged vessels, prompting New Delhi to express deep concern to Iran [1]. In response to these incidents, the U.S. Navy fired on an Iranian cargo ship in the Gulf of Oman on Sunday, with U.S. Marines subsequently taking control of the vessel. President Donald Trump stated that the ship was attempting to breach the U.S. naval blockade of Iran [1].
Iran's stance on the strait shifted rapidly: after declaring the passage open to commercial ships on Friday in response to a U.S.-brokered ceasefire in Lebanon, Tehran closed the sea lane on Saturday following President Trump's refusal to lift the blockade of Iran's ports [1].
The market reacted sharply to the disruptions, with oil prices rising about 6% on Monday as ship traffic remained low and security concerns persisted [1].
CONCLUSION
The attacks and subsequent military actions in the Strait of Hormuz have severely disrupted commercial shipping and driven oil prices higher. The situation remains tense, with ongoing security risks and fluctuating access to the vital shipping lane impacting global energy markets.