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News from Brussels
The US military has fired missiles into a commercial tanker attempting to reach Iran.
US Central Command said a military aircraft struck the smokestack of the unladen, Curaçao-flagged Belma after the vessel ignored repeated warnings while sailing through international waters towards Kharg Island, Iran’s principal crude export terminal. The tanker was disabled and is no longer proceeding towards Iran. Two other commercial vessels complied with instructions and were redirected during the first 24 hours after Washington reinstated its blockade of Iranian ports on Tuesday evening.
Tehran’s Revolutionary Guard has threatened to prevent regional energy exports if Iranian cargoes are blocked, declaring that oil and gas would move “for everyone or for no one”.
Commercial traffic has again slowed to a trickle.
The renewed escalation between the US and Iran is also scrambling tanker deployment. Norwegian broker Fearnleys said war-risk insurance was “back in the melting pot”, where available, making reported freight levels difficult to compare.
“Fujairah and Oman are now back as priority number one in addition to Yanbu of course, where possible additional risk is added as the Houthis have started saber-rattling again,” Fearnleys noted in its latest VLCC report.
Yanbu has become increasingly important as Saudi Arabia shifts crude westwards across the kingdom to avoid Hormuz. Recent shipments from the Red Sea port have averaged around 4m barrels per day, more than four times year-ago levels, according to Kpler and Signal Ocean data.
That escape route now carries its own threat. A senior Houthi official has warned that Bab el-Mandeb could be closed if regional fighting escalates, raising the prospect of simultaneous disruption at the Middle East’s two key maritime energy exits.