A number of oil tankers are avoiding the Strait of Hormuz — the narrow shipping lane linking the oil-rich Persian Gulf to the open seas — with some shipowners adopting a caution-first approach after the US and Israel bombed Iran. Tankers hauled about 16.7 million barrels a day of crude and condensate through the strait in 2025. Brent crude, the global benchmark, was trading at around $73 a barrel on Saturday. A disruption to oil flows from the region could also strain Tehran’s ties with China, one of the largest buyers of Iranian crude. Industry sources said that in the event of a Hormuz blockade, India could seek supplies routed through bypass infrastructure such as Saudi Arabia’s East-West pipeline to the Red Sea and the UAE’s Abu Dhabi Crude Oil Pipeline to Fujairah.

Source: The Telegraph March 01, 2026 01:19 UTC