Tankers keep oil flowing through Strait of Hormuz despite surge in Iranian attacks
Ship attacks doubled in October, but crude exports averaged about 2% below September levels as industry adapts with a costly shuttle system and U.S. air cover
Commercial ships continue to ferry substantial volumes of crude oil through the Strait of Hormuz even as Iran sharply escalated attacks in October, with at least 30 vessels hit this month and at least 16 seafarers injured, according to data from the International Maritime Organization. Crude exports have rebounded since March, when they plunged nearly 90%, but the shuttle system is helping get oil out while driving the cost of hiring a supertanker for the Gulf of Oman-to-Asia journey above $900,000 per day. Larsen said tankers transiting Hormuz depend on U.S. military air cover for their security.