Hormuz Shipping Falls to Wartime Low as Tanker Attacks Intensify

2026, October 8

Iran / Qatar / Gulf states

Shipping through the Strait of Hormuz has fallen to its lowest level in more than two months after tanker attacks reached their highest weekly level since the Iran war began. Only seven commodity vessels passed through the strait on Tuesday, while crude flows fell 27% to about 10.1 million barrels a day, roughly 74% of the pre-war level.

The latest incident involved a tanker struck by multiple projectiles north of Qatar, with casualties reported. Oil prices responded sharply: Brent crude rose more than 4.5% to around $104.75 a barrel, as traders worried that the disruption could become more prolonged. Hormuz normally carries shipments equivalent to roughly one-fifth of global crude and LNG supplies.