GEM NO.2 supertanker strike aftermath

by Jolyon: United Arab Emirates

The Panama-flagged GEM NO.2 is the vessel caught in the aftermath of a projectile strike off the coast of the UAE, landing well outside the Strait of Hormuz in waters typically chosen by ships to avoid Iranian territory. Reports indicate the tanker was carrying approximately 2 million barrels of Saudi crude oil at the time, yet running dark by switching off its tracking system prior to the event failed to prevent the hit. No group has officially claimed responsibility, though suspicion regarding the perpetrator is directed toward Tehran. The situation underscores a critical vulnerability: Iran can target vessels regardless of their location or navigation choices, and a single US carrier cannot provide escorts for all ships in the region. This reality suggests a future where fewer tankers are willing to make the run, leading to a reduction in tanker traffic and an increase in oil prices.