BANGKOK, THAILAND – After attacks by Iranian forces on commercial vessels in the Strait of Hormuz, Thailand’s state energy group PTT moved to diversify crude oil supplies amid rising geopolitical risk.
PTT responds to latest escalation with diversification push
On Saturday, as gunfire and maritime incidents were reported around the Strait of Hormuz, PTT Plc said it planned to diversify Thailand’s crude procurement in the event of a renewed escalation in the US–Iran conflict.
The state-owned energy company stated that access to oil and gas could be fully maintained even if the strategic waterway were to be closed.
Attacks on merchant ships deepen security crisis in the choke point
According to maritime sources, Iranian forces targeted several commercial ships in or near the Strait, including an Indian oil tanker and other cargo vessels.
Reports also described sustained gunfire during the attacks, further aggravating tensions in one of the world’s most important energy corridors.
UK body confirms fire on tanker as projectile hits boxship off Oman
The United Kingdom Maritime Trade Operations (UKMTO) confirmed that two Iranian fast boats opened fire on a tanker.
Separately, a container ship off the northeastern coast of Oman was struck by an unidentified projectile, damaging several containers.
Tehran again threatens closure and orders ships to stand still
Shortly before the attacks, Iranian authorities warned that the Strait of Hormuz would again be closed to commercial traffic, and that ships approaching the waterway would be treated as supporters of hostile forces.
In response, the Revolutionary Guard ordered ships to remain at anchor and not to move in either the Persian Gulf or the Gulf of Oman until the United States lifted its blockade of Iranian ports.
US blockade holds as truce nears expiry and diplomacy remains fragile
The United States reiterated on Saturday that the blockade of Iranian ports, in force since 13 April, would remain until a peace agreement with Tehran was signed, while Iran condemned the measure as a violation of the existing ceasefire.
According to US figures, 23 ships had already been turned away under the enforcement of the blockade, while the two-week truce was due to expire on 22 April and President Donald Trump left open the possibility of an extension.
Iran rejects direct talks and sets conditions
Iranian Deputy Foreign Minister Saeed Khatibzadeh said on Saturday that Tehran was not ready for direct talks and pointed to what he described as “maximalist” demands from Washington.
He also rejected allegations of transfers of enriched uranium and insisted that a framework agreement and progress on core issues such as sanctions were needed before any direct negotiations could take place.
Quiet contacts continue as possible Islamabad meeting in doubt
Behind closed doors, diplomatic contacts continued, and there were indications of possible talks in Islamabad on Monday.
However, both sides suggested that such a meeting might not go ahead, leaving the path to de-escalation uncertain.
Hormuz as a bottleneck for 20% of global oil and LNG flows
The Strait of Hormuz plays a central role in global energy trade, normally handling around 20% of worldwide oil and liquefied natural gas (LNG) shipments, so any disruption had immediate global repercussions.
Tracking data recently showed a marked decline in vessel movements, with only limited traffic during brief periods of reopening, forcing ships to reroute or delay transits.
Oil prices surge as Thailand faces inflation, supply snarls and closures
The current conflict began on 28 February with US and Israeli attacks on Iran; since then, maritime security conditions have deteriorated and oil prices at times rose above US$100 per barrel.
Thailand, which is heavily dependent on imports, has been particularly exposed: higher energy prices have pushed up inflation, disruptions to shipping have strained supply chains and trade, and data showed a 58% rise in factory closures at the start of 2026.