Strait of Hormuz shipping disruption: war-risk premium climbs as mines hit three tankers

The shipping side of Tuesday's escalation is an insurance and freight story, not an oil-price story. Wire and shipping reports said three oil tankers were hit by mines in the Strait of Hormuz on Nov 3, that U.S. forces struck Iran's Qeshm Island near the strait, and that tanker traffic through the waterway was effectively paralyzed at the height of the reports. The strike details and the mined tankers are attributed claims from wires and shipping outlets, unconfirmed by U.S. Central Command or Tehran in the window I could check, so treat each as one side awaiting a second source. For the book, the direction is not in doubt: every transit through Hormuz repriced the moment the first mine was…