Iran Accused of Escalating Attacks on Oil Shipping to Keep Prices High Before US Elections

Iran is reportedly changing its tactics against commercial vessels in and around the Strait of Hormuz, according to senior Iranian officials cited by Reuters. The officials said Tehran wants to keep global oil prices high and frustrate efforts by the United States and its allies to lower energy costs before the November midterm elections. The Strait of Hormuz previously carried about one-fifth of global oil and liquefied natural gas trade. Disruptions in the waterway have raised shipping insurance costs, slowed vessel traffic and added pressure to energy markets. US military officials said Iranian forces have adjusted their operations after damage to coastal radar facilities. Maritime security reports also indicate a recent increase in drone attacks and harassment of tankers near Hormuz, the Gulf of Oman, and waters close to the United Arab Emirates and Qatar.

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