How 'Dark' Tankers In Strait Of Hormuz Are Keeping Oil Prices In Check
Oil prices have remained below $100 a barrel despite ongoing regional conflict in the Middle East, largely due to the use of 'dark' tankers. These vessels switch off transponders to transport crude oil from the Persian Gulf under US Navy escort, bypassing traditional shipping risks.
Why it matters
The strategy demonstrates how global energy markets adapt to geopolitical instability, shifting the burden of security and insurance to state actors to maintain supply chain continuity.
Sixteen days into the war between Israel, the US and Iran, oil hit $103.90 a barrel, a jump of 43 per cent. Six months on, prices have settled well below that peak, and the reason has less to do with diplomacy than with tankers going dark at sea.The strikes on February 28 hit thousands of targets inside Iran and killed several senior leaders, tipping the region into war. Soon after, Brent crude prices jumped to over $100 a barrel. It was one of the worst oil shocks the world had seen in decades.
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