Just when the outlook for the Strait of Hormuz appeared to be stabilising, tensions have escalated again.

Following US strikes on Iranian military installations on Larak Island on 30 August, Iran retaliated with further attacks across the region and intensified its targeting of shipping. Saudi vessels have been struck in both the Strait of Hormuz and the Red Sea, while the possibility of further military action against Iranian tankers is raising fears of a new tanker war.

In this week's episode, Tom Reed is joined by John Olett, Head of EMEA Freight, and Nader Itayim, Head of Dubai Editorial examine the military, shipping and market developments shaping Middle East crude flows.

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