At least 11 tankers have been attacked in and around the Strait of Hormuz since last Monday, threatening a recovery in Persian Gulf oil exports as fighting spreads across the region. Four of the attacks occurred in the past two days, underscoring the risks facing ships despite protection from U.S. forces, The New York Times reported Monday. The strikes came as Yemen’s Saudi-backed government announced Sunday a major military campaign against the Iran-backed Houthi militia following Houthi attacks on Saudi oil infrastructure.
Amin Nasser, chief executive of Saudi Aramco, warned Monday that prolonged disruptions to the strait were draining global oil reserves and putting additional pressure on energy supplies. “Few expected a near closure of the world’s most critical energy artery to last so long, or its impact to spread so widely,” Nasser told the Energy Intelligence Forum in London. “This is one of the worst crises of my career, and my career is long.” Brent crude, the global oil benchmark, hovered around $102 a barrel Monday. Analysts said rising Gulf exports, now at their highest level since the war began more than seven months ago, had helped contain further price increases.
