nuOct 8, 2026, 07:07

Oil prices rise after multiple tanker attacks in Strait of Hormuz

At least twelve attacks on tankers in the Strait of Hormuz between late September and early October have caused shipping traffic to plummet to a two-month low. The resulting supply chain disruptions have driven global oil prices upward and led to increased fuel costs at the pump.

Between September 28 and October 5, at least twelve attacks occurred against oil, LNG, and LPG tankers in the Strait of Hormuz. These maritime security incidents have significantly disrupted shipping lanes, with vessel traffic hitting a two-month low. As a result, hundreds of tankers remain stranded due to the ongoing conflict between Iran and the United States, which has blocked the strategic waterway for several months.

Global oil prices responded sharply to the instability, with Brent crude rising by 2.6 percent to reach 102.80 dollars per barrel, while U.S. oil prices increased by 2.1 percent to 90.37 dollars. This supply chain disruption is impacting consumers, as evidenced by a slight rise in gasoline prices at the pump. The situation remains uncertain following the rejection of a recent ceasefire proposal by U.S. President Donald Trump, and the long-term impact on global energy markets continues to be a concern as prices remain elevated.

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Based on reporting by nu. Translated and condensed by LocalHeadlines.

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