Attacks on Hormuz shipping intensify as Iran shifts tactics; oil edges up and European gas hits highest since 2022

Shipping in the Strait of Hormuz has come under the worst run of attacks since the conflict began. UK Maritime Trade Operations logged 15 attacks between October 6 and 14, 11 of them in the past four days, and on Tuesday a container ship and a tanker were struck by unknown projectiles, prompting the agency to urge caution on all transits. An Iranian official told Reuters the new tactics started about 10 days ago.

Claims on both sides are hard to verify. Iran's security chief said Iran strikes five to six vessels a night, while US Central Command said it controls the strait and that more than 19 million barrels moved through it on Monday. Iranian state media separately reported that a tanker caught fire in the eastern strait after violating regulations, a claim that has not been independently confirmed.

Oil prices edged higher, with WTI settling at $94.14 on Tuesday. Reuters attributed the move mainly to supply risk from Houthi attacks on Saudi Arabia, with a dispute over Russian diesel acting as a restraint, while Euronews and the Associated Press tied it to the Hormuz attacks. European gas also hit its highest level since December 2022, with the benchmark TTF contract touching 87.43 euros per megawatt hour intraday; the Financial Times linked that rise to the standoff over Russian diesel and cold weather rather than to Hormuz.

For markets, the strait remains the critical chokepoint: if attacks start to reduce the flows US Central Command says are still moving, the risk premium in crude and in shipping and insurance costs would rise from here. For now, the evidence shows more frequent attacks but not yet a measurable loss of throughput.