Strait of Hormuz Nears Paralysis: 150 Oil Tankers Halt Operations as Oil Markets Roil

At least three ships have been reported attacked near the Strait of Hormuz as Iran continues to launch military operations in the Middle East in response to military operations by the United States and Israel. The UK Maritime Trade Operations Centre (UKMTO) reported that two ships came under attack, whilst an unknown projectile exploded in very close proximity to a third vessel.

According to BBC reporting from Monday, 2 March 2026, Iran had previously warned vessels not to transit the Strait of Hormuz, a strategically vital waterway through which approximately 20 per cent of global oil and gas trade passes.

International maritime activity at the strait’s entrance has nearly ground to a halt. Concerns over distribution disruptions have driven increases in global oil prices.

The Islamic Revolutionary Guard Corps (IRGC) claimed that three tanker vessels belonging to British and American operators came under missile attack and caught fire. To date, the governments of Britain and the United States have not issued official comments.

The UKMTO reported “several security incidents” in the Arabian Gulf and the Gulf of Oman, and called upon vessels to proceed with extreme caution.

The ship tracking platform Kpler recorded at least 150 oil tankers dropping anchor in Gulf waters outside the Strait of Hormuz. However, several vessels flying Iranian and Chinese flags were reported still transiting the waterway.