Tankers sailing with transponders off are reportedly helping prevent a sharper oil-price surge by moving crude through the disrupted strait
Gulf states are covertly shipping oil through the Strait of Hormuz on tankers with their transponders switched off despite severe disruptions to normal traffic and intermittent attacks, Bloomberg reported on Sunday, citing people familiar with the shipments.
The de facto closure to normal traffic through the strait due to the US-Iran conflict has affected a strategic waterway that has historically been the route for around a quarter of the world’s seaborne oil trade. The conflict initially sent global oil…
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