# Gulf tanker incidents may raise shippers' costs, cut traffic | AP News

> Seizures of oil tankers and Iranian measures in the Strait of Hormuz are raising shipping insurance rates. Experts warn tanker traffic could fall and oil prices could spike.

- Date: 2019-07-20 · published 2019-07-20T12:00:00.000Z
- Category: geopolitics · region Middle East · magnitude low
- Page: https://feedsoft.ai/events/58266-gulf-tanker-incidents-may-raise-shippers-costs-cut-traffic-ap-news
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher shipping insurance and possible traffic cuts through Hormuz raise freight and energy costs, with upside risk to crude prices.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-06-14 | [Oil prices rise for second day after Gulf of Oman tanker attacks \| The National](https://feedsoft.ai/events/58758-oil-prices-rise-for-second-day-after-gulf-of-oman-tanker-attacks-the-national.md) | +4.3% | +7.7% |
| BRENT | 2018-09-24 | [Oil prices at highest levels in 4 years after OPEC says it won't raise output \| CBC News](https://feedsoft.ai/events/63202-oil-prices-at-highest-levels-in-4-years-after-opec-says-it-won-t-raise-output.md) | +4.9% | +1.6% |
| BRENT | 2026-03-06 | [Iran conflict boosts US Gulf oil prices to highest since 2020 \| Reuters](https://feedsoft.ai/events/5575-iran-conflict-boosts-us-gulf-oil-prices-to-highest-since-2020-reuters.md) | +16.6% | +35.6% |
| BRENT | 2023-12-19 | [Oil rises 1% as Red Sea shipping concerns unnerve traders](https://feedsoft.ai/events/32884-oil-rises-1-as-red-sea-shipping-concerns-unnerve-traders.md) | +2.8% | -0.1% |
| BRENT | 2018-03-09 | [US strikes three Iranian oil tankers after Iran targets US warships](https://feedsoft.ai/events/66178-us-strikes-three-iranian-oil-tankers-after-iran-targets-us-warships.md) | +1.0% | +4.8% |
| WTI | 2026-03-18 | [Ag shippers face rising diesel costs, and farmers could share the bill \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/20357-ag-shippers-face-rising-diesel-costs-and-farmers-could-share-the-bill-agri.md) | -3.3% | -3.8% |
| WTI | 2019-06-14 | [Oil prices rise for second day after Gulf of Oman tanker attacks \| The National](https://feedsoft.ai/events/58758-oil-prices-rise-for-second-day-after-gulf-of-oman-tanker-attacks-the-national.md) | +8.5% | +14.7% |
| WTI | 2018-09-24 | [Oil prices at highest levels in 4 years after OPEC says it won't raise output \| CBC News](https://feedsoft.ai/events/63202-oil-prices-at-highest-levels-in-4-years-after-opec-says-it-won-t-raise-output.md) | +3.4% | -2.3% |

## Sources

- apnews.com: https://apnews.com/article/d7795eaf6ff343bbba9e40c1f6ec34de

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.