Arya News - An attack on a vessel in the Strait of Hormuz has pushed Brent crude oil prices above US$100 a barrel, reviving concerns over global energy supplies.
BANGKOK – A fresh attack on a vessel in the Strait of Hormuz and the temporary shutdown of Saudi Arabia’s East-West oil pipeline have revived concerns about global energy supplies, after a week in which Brent crude climbed back above US$100 a barrel.
The developments have unsettled energy markets as security threats intensify along major Middle Eastern shipping routes. For Thailand, which relies heavily on imported energy, persistently high crude prices could raise energy costs and weigh on the broader economy.
Hormuz attack revives global supply concerns
Concern over global oil supplies intensified on Sunday (September 13) after another vessel was reported to have been attacked while transiting the Strait of Hormuz, against the backdrop of the continuing conflict between the United States and Iran.
At the same time, tensions around the Red Sea and the Bab el-Mandeb Strait have increased, raising the prospect that several critical oil-shipping routes could be disrupted at the same time.
Reuters reported that the United Kingdom Maritime Trade Operations (UKMTO) received notification that a vessel had been struck by an unknown projectile while passing through the Strait of Hormuz. The extent of the damage and the condition of the crew were not immediately known.
The incident followed Saudi Arabia’s temporary closure of its East-West oil pipeline after a drone attack. The pipeline provides an important alternative route for Saudi crude exports because it allows oil to bypass the Strait of Hormuz.
Hormuz threat returns to focus
The Strait of Hormuz is one of the world’s most important energy corridors, carrying oil from major Gulf producers to international markets.
Before the current conflict, around 20% of global oil supplies passed through the waterway. Fighting in recent months has severely disrupted shipping and energy exports through the strait.
The latest reported attack has added to market anxiety, underscoring persistent risks to commercial shipping despite diplomatic efforts to restore safer passage.
Brent crude has moved above US$100 a barrel as traders reassess the threat to Middle Eastern supplies. Oil prices had already risen sharply following earlier attacks on vessels and energy infrastructure across the region.
Saudi pipeline shutdown adds to supply concerns
Further pressure has come from Saudi Arabia’s decision to temporarily close the East-West pipeline following the aerial attack.
The route has played a critical role in allowing the kingdom to move crude without using the Strait of Hormuz. During recent disruptions to shipping through Hormuz, the pipeline carried around 4 million to 5 million barrels of oil per day.
Its temporary closure reduces Saudi Arabia’s alternative export capacity at a time when passage through Hormuz remains highly uncertain.
No group had immediately claimed responsibility for the pipeline attack, Reuters reported. US President Donald Trump indicated that Iran was probably involved, but responsibility has not been independently confirmed.
Bab el-Mandeb emerges as second energy risk
Market concerns are no longer focused solely on Hormuz. The Iran-aligned Houthi movement in Yemen has advanced towards strategic areas around the Bab el-Mandeb Strait, an important maritime route linking the Red Sea with the Gulf of Aden.
Reuters reported that the development is increasing the threat to oil and commercial shipping, particularly routes connected with Saudi crude exports.
The market is therefore watching two major chokepoints — the Strait of Hormuz on the Gulf side of the Arabian Peninsula and Bab el-Mandeb on the Red Sea side.
Any serious disruption to both routes could have wider consequences for global energy supplies and international trade.
Brent holds above US$100
Crude prices above US$100 a barrel suggest that supply risks have again become a key force driving the market.
Brent settled at US$104.61 a barrel on Friday (September 11), while US West Texas Intermediate (WTI) crude closed at US$100.05. Both benchmarks posted weekly gains of more than 8% amid concerns about Middle Eastern supply disruptions.
Pressure has also spread to refined fuels. Reuters reported that US diesel prices reached a record high as constraints on Middle Eastern oil shipments combined with supply pressures in other regions.
Hormuz talks offer limited prospect of breakthrough
Diplomatic efforts to ease tensions are continuing, although uncertainty remains high. Iran and Oman have reached an understanding on a possible framework for the future of the Strait of Hormuz, but the arrangement does not provide for its immediate reopening.
A meeting between Iran and Gulf Arab states in Oman is also expected to discuss the strait, although no signed agreement is currently anticipated.
Iran has sought conditions concerning the management of the waterway and the collection of fees from vessels using it. Those demands remain disputed, leaving uncertainty over when normal shipping could resume.
Prolonged crisis could raise global economic costs
For the global economy, the central issue is no longer simply whether crude prices have exceeded US$100 a barrel, but how long disruptions to oil supplies and shipping could last.
If risks around Hormuz and Bab el-Mandeb persist, higher transport and energy costs could feed through to refined fuel prices, freight charges, inflation and production costs for businesses worldwide.
Thailand is particularly exposed to movements in international crude prices because of its dependence on imported energy. If oil remains above US$100 a barrel for an extended period, the country could face higher energy costs and broader economic pressure.
The latest developments have therefore returned the Strait of Hormuz to the centre of global economic concerns, with energy markets watching closely to determine whether the latest vessel attack remains an isolated incident or signals a further escalation of the Middle East energy crisis.