The United Arab Emirates reported that two oil tankers were hit and a seafarer died while crossing the Strait of Hormuz. This marks the most significant attack on commercial shipping in the waterway since an interim peace deal between the U.S. and Iran all-but fell apart last week.
Shipping activity has plummeted after Iran attacked a ship, which triggered U.S. strikes. These renewed strikes and attacks on vessels have heightened safety concerns for those utilizing the critical waterway.
Consequently, the number of tankers transiting the strait fell on Monday to the lowest level in two months, with very little crude oil being transported. On Sunday, only six vessels transited the strait, the lowest number in five weeks.