Hormuz oil flows collapse 86% after mine strikes

Hormuz oil throughput fell 86% in 72 hours after two supertankers struck mines in mandatory shipping lanes Sunday, officials said. WTI reached $101.41 a barrel.

US gasoline reached $4.23 a gallon following the disruption, data showed. The latest strikes brought the week's tanker toll to four, deepening a chokepoint disruption in the main sea route for Gulf crude exports.

Hormuz lanes and bypass limits

Officials said the mines were in the Traffic Separation Scheme, the mandatory corridors used to organize tanker movement through the Strait of Hormuz. Damage in those lanes matters because shipowners and insurers have fewer routing options when the designated corridors are unsafe.

Bypass pipelines cover under a third of pre-war flow, officials said. That leaves most affected crude volumes dependent on tanker access through Hormuz or on storage draws if sailings slow further.

For global energy markets, the mechanism is direct: fewer safe tanker transits reduce available seaborne supply, while higher freight, insurance and delay costs can add to delivered crude prices. Refiners exposed to Gulf grades face the nearest operational risk if cargo scheduling gaps widen.

The next dated call is Monday, Oct. 19: whether traffic managers reopen parts of the mandatory lanes, keep restrictions in place, or report further mine-clearance delays.