Iran attacks in Hormuz force shipments to U.S.-protected Oman routes
World
Iran has been ramping up attacks on oil tankers in the Strait of Hormuz, with nearly 20 ships targeted over the past month.
This hotspot is a major route for global oil, so these incidents are making it tougher for Persian Gulf exports to bounce back.
To keep things moving, crude shipments are now sticking to U.S.-protected routes along Oman's coast.
Attacks cut Hormuz crude flows 23%
The spike in attacks means higher risks (and costs) for shipping companies. There have even been crew casualties.
On average, only about 10.3 million barrels of crude are moving through Hormuz daily now, which is 23% less than before the conflict started.
Even so, oil prices remain close to $100 a barrel, showing just how much Iran's actions can shake up the market and tanker security.