Hamas-Israel conflict triggers key oil terminal shutdown

Chamber of Shipping > Blog > News > International > Hamas-Israel conflict triggers key oil terminal shutdown

The conflict between Israel and Hamas has led to the closure of the Ashkelon port, Israel’s largest oil terminal, and the shutdown of the Tamar natural gas field off the country’s northern coast. Other ports like Haifa and Ashdod continue to operate. While immediate effects on shipping and commodities are expected to be limited, there are concerns about potential longer-term consequences that could affect seaborne trade, particularly related to diplomatic developments in the region, including Iran’s role as an ally of Hamas. Some analysts suggest the Israel-Hamas conflict could increase tonnage demand and impact the tanker market, especially VLCCs (Very Large Crude Carriers).

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