Oil Tankers Flee Fujairah Amid Iranian Attacks

At least 10 very large crude carriers and several Suezmax vessels have stopped or reversed course while approaching the port of Fujairah in the United Arab Emirates. The retreat follows near-daily attacks by Iran around the Strait of Hormuz, including incidents occurring near Fujairah itself.

The pullback threatens a critical ship-to-ship transfer system. Under this arrangement, large tankers wait in safer waters outside the strait while smaller shuttle tankers transport crude from the Persian Gulf. This workaround previously allowed oil exports to recover to near prewar levels.

A significant reduction in receiving tankers could slow the flow of crude and increase the time shuttle vessels remain tied up. These disruptions further strain a global tanker market already facing tight availability and extreme shipping costs.