By Cassell Bryan-Low LONDON, March 11 (Reuters) - Naval drones have been used in at least two attacks on oil tankers in the Gulf region since war erupted between the U.S., Israel and Iran, according to maritime authorities and analysts,

Greek Maritime Minister Vassilis Kikilias said he believed the strike may be connected to the U.S. decision to temporarily ease sanctions on Russian oil.

A flotilla of at least 25 supertankers is heading to Saudi Arabia’s Red Sea port of Yanbu as the kingdom races to get its oil to market after the Iran war halted shipping through the Strait of Hormuz.

A Greek oil tanker was damaged in a suspected drone attack in the Black Sea while approaching the Russian port of Novorossiysk.

As shipments through the Strait of Hormuz face disruptions, several oil tankers have reportedly been redirected toward Yanbu to maintain global supply.

Oil prices have surged dramatically in early 2026, driven by the escalating Iran conflict and fears of Strait of Hormuz disruption. Crude oil surged over the weekend before settling near $84 per barrel at 5:00 p.

Moscow/New Delhi: For months now, several Russian oil tankers have been moving across international waters without buyers or discharge destinations. The unusual sight of fully loaded crude carriers waiting at sea shows that Asia’s oil trade is changing ...

Oil prices have climbed in recent weeks, even as a global surplus has left hundreds of millions of barrels floating offshore. On Wednesday, oil prices ended over 4% higher as traders priced in the risk of supply disruptions amid tensions between the US and ...

Although President Trump said seizing tankers would be a financial boon, the cost of maintaining just one aging ship has already reached $47 million.