Iran sneaks out oil tankers through Hormuz as threats to ships increase

Iran has reportedly been sneaking oil tankers through the Strait of Hormuz over the past few days even before the US said it would reimpose a blockade on Iranian ports. Moreover, Donald Trump said the US wants to be reimbursed for the protection of the strait. 

According to a report in Bloomberg, six US-sanctioned supertankers and other Iran-linked ships made their journeys through the strait into the Gulf of Oman in the past week with their transponders turned off. This came after Washington revoked temporary permission for Tehran to sell its oil on July 7. 

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The news site cited ship tracking data to add that traffic in Hormuz had all-but ceased early on Tuesday. A bulk carrier was heading towards Sharjah while two liquefied petroleum gas carriers were approaching the Strait of Hormuz from the opposite direction to exit the Persian Gulf, the port added. It said there might be other non-Iranian vessels crossing the strait with their transponders switched off. 

These dark transits are taking place amid attacks on ships by both Iran and the US.  

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Meanwhile, crude oil prices rose nearly 3% on Tuesday to their highest in four weeks. Brent crude futures were up $1.90, or 2.3%, at $85.20 a barrel at 0630 GMT, while U.S. West Texas Intermediate crude rose $1.91, or 2.4%, to $80.05 a barrel. Both contracts had earlier climbed by more than $2 a barrel before giving up some gains. Brent had surged 9.6% in the previous session, its biggest daily gain since May 2020. 

Oil prices are now at their highest since the two countries signed a memorandum of understanding to end the war on June 17.

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The US military carried out a third consecutive night of strikes against Iran on Monday. Trump also reinstated a blockade of Iranian shipping and proposed charging a 20% fee to guard the Strait of Hormuz.