Oil vessel transit costs through Hormuz escalated after Iran war, ENOC exec says ↧ ↧ Oil vessel transit costs through Hormuz escalated after Iran war, E... Oil vessel transit costs through the Strait of Hormuz have escalated ​significantly after the Iran war, led by a sharp climb in ‌additional war risk premiums and cargo insurance costs, an executive from Emirates National Oil Company (ENOC) said on Wednesday.