Business

Major traders suspend oil and gas shipments via Hormuz

Published: 03:02 PM,Feb 28,2026 | EDITED : 08:02 PM,Feb 28,2026

 

The US Transportation Department urged commercial vessels Saturday to stay away from the Gulf after the US and Israel launched heavy bombing attacks on Iran.

The Strait of Hormuz, Sea of Oman and Arabian Sea are subject to 'significant military activity,' and 'it is recommended that vessels keep clear of this area if possible,' the department's Maritime Administration said in a statement.

US-flagged, owned, or crewed ships should also stay 30 nautical miles from any US military vessel to avoid being mistaken as a threat, it said.

Some oil majors and ​top trading houses ​have suspended crude oil, fuel, and liquefied natural gas (LNG) shipments via the Strait of Hormuzas the U.S. and Israel attack Iran and Tehran retaliates, four trading sources said on ⁠Saturday.
'Our ships will stay put for several ⁠days,' one top executive at a major trading desk said.
The tanker association INTERTANKO said the U.S. Navy had warned ‌against navigation in the operations ​area - the ⁠whole of the Gulf, Sea of Oman, the ​North Arabian Sea, and ‌the Strait of Hormuz - saying it could not guarantee the ​safety of neutral or merchant shipping.
Eleven LNG tankers in ballast have so far shown signs of slowing down, U-turning, or stopping in or around the Strait, said Laura ‌Page, Kpler's insight manager, LNG and natural ​gas.
'This number will likely rise over the coming ​days ‌and ⁠could pose risks to Qatari LNG supply to the international market,” she said.
Florence Schmit, energy strategist ​at Rabobank, said: 'If Qatar, which plays ⁠a disproportionate role ​in balancing both Asian and European LNG markets, is unable to export cargoes because of infrastructure damage or shipping impairments, the effect on global ​gas prices would be dramatic.'