Authored by Tsvetana Paraskova via OilPrice,
Four oil tankers were destroyed after hitting naval mines in an area south of the Strait of Hormuz proscribed by Iran as prohibited for navigation, Iran's Islamic Revolutionary Guard Corps (IRGC) said on Wednesday, as attacks on vessels in the region intensify while crude oil flows have dipped from recent highs.
The four tankers are still ablaze, while two other vessels have been seized, the Revolutionary Guards said.
While flows have recovered substantially from the lows in the spring, the security situation in and near the Strait of Hormuz has actually deteriorated, with a higher number of attacks on tankers in recent weeks.
Following a post-war peak in September, exports of crude oil, condensate, and fuels from the Middle East slipped to 17.1 million barrels per day (bpd) in October, down from 18.9 million bpd in September, according to data from Vortexa cited by Reuters.
"October data shows Middle East seaborne oil exports have pulled back slightly from recent post-war highs on heightened risks in the Strait of Hormuz," George Morris, an an
