Sources say that oil and gas traders and majors suspend their shipments via Hormuz due to US attacks on Iran.

Four trading sources reported on Saturday that some oil majors, as well as top trading houses, have suspended shipments of crude oil, fuel, and liquefied gas (LNG) via the Strait of Hormuza, after the U.S., Israel, and Iran attacked each other and Tehran responded.

One top executive of a major trading desk stated that "our ships will remain in place for several days."

The tanker association INTERTANKO stated that the U.S. Navy warned against navigation within the operation area, which included the Gulf of Oman and the North Arabian Sea as well as the Strait of Hormuz, saying it couldn't?guarantee safety? of neutral or merchant ships.

Laura Page, Kpler insight manager for LNG and natural gas, says that 11 LNG tankers with ballast are showing signs of slowing, turning around or stopping at or near the Strait.

She said that the number of LNG imports from Qatar to 'the international market' could be at risk in the near future.

Florence Schmit is an energy strategist with Rabobank. She said, "If Qatar, a country that plays a significant 'role' in balancing Asian and European LNG markets, were to be unable to ship cargoes due to infrastructure damage or shipping impairments, it would have a dramatic effect on global gas prices." Reporting by Dmitri?Zhdannikov; Editing by Aidan Lewis & Kevin Liffey

(source: Reuters)