Security incident raises fresh concerns over global energy supplies and shipping
LONDON: Global oil prices rose on Tuesday after reports that a Kuwait-owned oil tanker was struck near the Strait of Hormuz, intensifying concerns over energy supplies and maritime security in one of the world’s most important shipping routes.
At the time of reporting, Brent crude was trading at around $92 per barrel, with analysts closely monitoring whether continued disruptions could push prices toward the $100 mark.
According to security consultancy EOS Risk Group, the tanker Kaifan, operated by Kuwait Oil Tanker Company, was struck while transiting the Strait of Hormuz. Separately, the United Kingdom Maritime Trade Operations (UKMTO) confirmed receiving a report of a security incident involving a tanker approximately eight nautical miles northeast of Limah, Oman.
Crew evacuated after reported strike
UKMTO said the vessel reported through an emergency communications channel that it had been hit by an unidentified projectile. The ship’s security officer later informed authorities that the crew had safely abandoned the vessel and moved to a lifeboat.
Officials have not publicly identified the source of the projectile, and no group has claimed responsibility for the reported attack. Authorities are continuing to monitor the situation.
The Strait of Hormuz remains one of the world’s busiest maritime chokepoints, carrying a significant share of global crude oil exports.
Market watches for further disruptions
The reported incident comes as commercial tanker traffic through the Strait has declined amid heightened regional tensions, increasing fears of supply disruptions.
Meanwhile, Yemen’s Houthi movement has announced a naval blockade targeting Saudi Arabia, adding to concerns about shipping security in the region.
Energy traders said the combination of security risks and reduced tanker movements has supported higher crude prices, with markets remaining highly sensitive to developments around the Strait of Hormuz.
Analysts noted that any prolonged disruption to oil shipments through the strategic waterway could place additional upward pressure on global energy prices, although future price movements will depend on the security situation, shipping activity and broader geopolitical developments.
