Tanker Strikes Push Hormuz Traffic to Lowest Level Since May
US Central Command forces targeted three Iranian oil tankers near Kharg Island over the weekend following Iranian Revolutionary Guard attacks on American warships in the Persian Gulf. Global energy markets and maritime shipping operators face severe supply disruption as commodity vessel traffic through the Strait of Hormuz fell to an average of ten ships per day, the lowest volume recorded since May.
Escalation Threatens Critical Export Hub and Global Energy Transit
Commodity vessel movements through the Strait of Hormuz dropped to approximately ten transits daily over a ten-day period as military activity escalated and Iranian authorities signaled plans for new maritime restrictions.
The military direct action coincided with statements from US President Donald Trump, who published an image on Truth Social showing a fighter jet targeting Kharg Island with the caption “Bye bye Kharg.” Kharg Island serves as the principal export terminal for Iranian crude oil, making its operation critical to Tehran’s foreign currency revenues.
Iranian officials issued threats of counter-strikes across regional energy infrastructure while preparing operational changes to maritime routes. Iranian Parliament Speaker Mohammad Baqer Ghalibaf stated that the regional oil and gas supply chain remains exposed to retaliation, while Supreme National Security Council Secretary Mohsen Rezaei announced that Tehran would define a new restricted zone in the Gulf along with adjusted shipping lanes through the Strait.
Concurrently, Iranian Foreign Ministry spokesman Esmail Baghaei said bilateral talks with Oman regarding a temporary safe transit route for commercial ships had reached advanced stages. The Canadian government urged Iran to cease actions threatening navigation in the corridor, expressing support for joint US, French, and British measures to maintain open shipping lanes.
Inside Iran, officials are framing policy around a war economy as domestic financial indicators deteriorate. Inflation over twelve months reached 69.9 percent, the dollar surpassed 2.2 million riyals, and the daily gasoline deficit reached 14 to 15 million litres. Starting Tuesday, the government prepared to double gasoline prices for consumption exceeding the monthly 110-litre subsidised quota to 100,000 riyals per litre.
