KABUL: Oil companies in Saudi Arabia, Kuwait, Qatar and the United Arab Emirates, with support from the U.S. Navy, have adopted a new strategy for transporting crude oil through the Strait of Hormuz.
Under the arrangement, the companies charter oil tankers that switch off their transponders as they travel through the Persian Gulf and the Strait of Hormuz toward the Gulf of Oman.
After reaching the Gulf of Oman, the tankers transfer their cargo to vessels waiting on behalf of buyers and the tankers then return toward the Persian Gulf through the Strait of Hormuz.
The move comes amid continued tensions between Iran and the United States over the strategic waterway. Concerns over the safety of maritime traffic have increased, adding further pressure to global oil markets.