The recent news that caught my attention is that Iranian-related oil tankers are making major route changes. It seems that after the U.S. Navy declared that it would crack down on the transport of Iranian crude oil in international waters, multiple tankers that were heading toward Malaysia had no choice but to change course.

According to data from Lloyd's List, at least five Iranian-related tankers have been forced to change their routes. Specifically, the Suezmax-type Kariz, which was carrying 1 million barrels of Iranian crude oil, was originally aiming for Malaysia and Singapore, but it suddenly diverted its course near Sri Lanka.

Even more interesting is the movement of the sanctioned large tanker Andromeda. Although it was carrying about 2 million barrels of oil and was heading for Southeast Asia, it changed its route midway through the Indian Ocean. And the two ships, Amak and Elisabet, apparently detected U.S. Navy vessels when they approached the Strait of Hormuz, and quickly reversed course in an empty state, heading back to the Arabian Gulf.

Looking at these developments makes it clear just how significantly geopolitical risk is affecting tanker operations. It’s also an element the oil market can’t afford to ignore, and it’s worth keeping a close eye on how energy flows and liquidity will evolve going forward.