Hormuz traffic recovery leaves oil under pressure as tanker attack risk persists

Recovering oil shipments through the Strait of Hormuz may offer limited relief from elevated oil costs while tanker attacks keep maritime insurance premiums high. The continuing threat to vessels is sustaining transport costs even as more cargo gets through. In an interview with David Lin on October 22, Hal Kempfer, chief executive of Global Risk Intelligence and Planning and a retired Marine lieutenant colonel, credited US Navy support with helping restore tanker traffic. He said the volume passing through the strait had recovered, but the risks facing those shipments remained substantial.

Source: TokenPost