Oil spill from shadow fleet tanker spreads off Oman, threatens Strait of Hormuz

An oil spill from a tanker described as part of a “shadow fleet” is spreading off the coast of Oman, according to satellite images. The vessel, identified as the Caroline Bezengi, is reportedly subject to EU and UK sanctions for transporting Russian oil. The spill reflects ongoing maritime risks associated with vessels operating outside regular oversight. This incident brings attention to the challenges posed by sanctions-hit ships in strategic maritime corridors, particularly the Strait of Hormuz, a critical passage for global oil shipments. Markets tracking the traffic normalization in the Strait of Hormuz are adjusting to this development. The current pricing for the market predicting normal traffic levels by September 30, 2026, has decreased, suggesting participants view the spill as a potential disruption to maritime safety and traffic flow. The probability of a YES outcome in this market has fallen to 16.5%, down from 18% the previous day and 22% a week ago. The incident underscores the geopolitical complexities in the region, with implications for global oil supply routes. It comes amid heightened tensions and ongoing U.S.-Iran discussions concerning maritime security in the...