Offline
Menu
Major tankers suspend Hormuz transits as Iran closes strait carrying 20pc of global oil supply
By Administrator
Published on 03/01/2026 16:12
News

LONDON, March 1 — Several tanker owners, ‌oil majors and trading houses have suspended crude oil, fuel ​and liquefied natural gas shipments via the Strait of Hormuz after the US and Israel attacked Iran and Tehran said it had closed navigation, trading sources said ‌on Saturday.

“Our ships will stay put for several days,” one top executive at a ​major trading desk said. Satellite images from tanker trackers showed vessels backed up next to big ports, such as Fujairah in the United Arab Emirates, and not moving through Hormuz.

Multiple vessels in the area have received VHF ​transmission from Iran’s Revolutionary Guards that “no ship is allowed to pass the Strait of Hormuz”, an official with the EU naval mission Aspides told Reuters.

The British Navy said Iran’s orders were not legally binding and advised vessels to transit with caution.

Some 20% of global ⁠oil, including from producers Saudi Arabia, the United Arab Emirates, Iraq, Kuwait and Iran, passes through Hormuz along with large volumes of LNG from Qatar.

Fourteen LNG tankers have shown signs of slowing down, U-turning or stopping in or around the Strait, said Laura Page from consultancy Kpler,adding that the number would likely rise, posing risks to Qatari LNG exports.

Comments