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Iran Ramps Up Attacks in Strait of Hormuz as Energy Flows Climb
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CNBC TV18•06-10-2026, 22:35
Iran Ramps Up Attacks in Strait of Hormuz as Energy Flows Climb
- •UK Maritime Trade Operations reported nine attacks on tankers in the Strait of Hormuz this month, showing a sharp escalation.
- •The surge in attacks comes as oil and gas shipments through the critical waterway approach prewar levels.
- •Maritime security experts note that Iran is using fear and uncertainty to assert control over the strait without needing to halt every vessel.
- •The cost of transporting oil from the Persian Gulf to China spiked to a record $1.3 million a day amid dwindling shipowner willingness to cross.
- •Consuming nations recently announced emergency stockpile releases to stabilize markets as winter approaches.
Key Questions Answered
UK Maritime Trade Operations reported nine attacks in the Strait of Hormuz waterway this month, which is half the total amount recorded for all of September in the Strait of Hormuz and Persian Gulf combined.
The flow of oil through the waterway has steadily picked up, with shipments approaching prewar levels or reaching around 80% of where they were before the conflict began. Meanwhile, liquefied natural gas shipments have been more limited but also quietly increased prior to the latest escalation.
The recent assaults have triggered a fresh surge in freight rates. The cost of transporting oil from inside the Persian Gulf to China climbed to a record $1.3 million a day, a sharp increase from an average of close to $60,000 a day last year.
