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Tankers hit mines and explosives in Strait of Hormuz as oil prices climb

Iran's IRGC said four tankers struck naval mines in the Strait of Hormuz after using what it called unauthorised routes.^⁠[7] The United Kingdom Maritime Trade Operations said a tanker transiting the strait was attacked by a small boat with two explosive devices.^⁠[5] Bloomberg reported that explosives attached to the outside of a tanker by fighters in a speedboat damaged its engine room, describing it as the first such attack in the current conflict and noting it is a tactic Iran has used before against commercial shipping.^⁠[1]

Oil prices climbed after Iran said four vessels were hit, with traders weighing export recovery and shipping risks.^{⁠[3, 5]} The Financial Times reported that oil spills from Tehran's stepped-up strikes on vessels over the past month have washed up on UAE beaches.^⁠[8] Adm. Brad Cooper, commander of U.S. Central Command, said Friday that mines in Hormuz are cleared and tankers are moving again, with more than 1.5 billion barrels passing through since June, when the U.S. military began escorting tankers through what he described as Iran's blockade.^⁠[6]

Why it matters Soaring freight rates are giving tanker operators a financial incentive to keep carrying crude through the strait despite the attacks.^⁠[2]

Covered by Bloomberg, The Wall Street Journal, Al Jazeera and 5 more

Read first Rare Speedboat Attack in Hormuz Ignites Tanker’s Engine Room · Bloomberg