Tankers defy sharp escalation of Iranian attacks to keep crude oil flowing through Strait of Hormuz

Within 24 hours of the U.S. and Israel going to war with Iran, Tehran responded with a wave of attacks on commercial ships in the Strait of Hormuz to cut off one of the world's main sources of crude oil. Iran's campaign was initially successful, with crude exports plunging nearly 90% to 1.8 million barrels a day in March compared with 16 million bpd in February, according to data provided by Kpler. But crude flows have rebounded over the past eight months as the U.S. military provides protection to tankers transiting Hormuz. Tehran has responded by escalating its attacks in recent weeks. More commercial ships have come under attack in October than at any other point in the war. Yet in contrast to March when exports cratered, tankers have continued to ferry substantial volumes of crude oil through Hormuz in a sign that the shipping industry has adapted to wartime in the Persian Gulf.As of Oct. 27, at least 30 vessels, mostly oil tankers, were hit this month leaving at minimum 16 seafarers injured, according to data from the International Maritime Organization, a United Nations agency. Ship attacks doubled in October compared with 15 confirmed incidents in September."It's a difficult...