Iran war: Oil holds ground above $100/bbl amid more vessel attacks

Brent crude’s price continues to gain as additional commercial vessels came under missile attacks in the Persian Gulf yesterday.  

IMAGE: Flags of the US and Iran. Getty Images

Another tanker was subject to an air assault whilst transiting the region yesterday, the United Kingdom Maritime Trade Operations (UKMTO) agency reported.

The vessel was about 28 nautical miles south-east of Al-Faw, Iraq, when it was hit by an unknown projectile, the UKMTO reported.

Around 16 vessels attempted to transit the strait on Tuesday – 10 inbound, six outbound – market intelligence provider Windward reported. Of this, two vessels moved in dark mode, data showed.

Although the transit volume is higher than crossings noted over the weekend, vessel traffic remains well below the pre-war average of 140 daily transits.

Washington and Tehran trade counter-accusations

Reports suggest that Iran has fired electro-optical missiles at US warships for the first time since the war broke out in late February.

However, the US Central Command (CENTCOM) has flatly dismissed claims by Iran’s Islamic Revolutionary Guard Corps (IRGC) that it struck two US Navy destroyers operating in the Middle East – dismissing it as completely false. “No U.S. Navy warship has been struck; all IRGC attempted attacks failed,” CENTCOM said on social media platform X.

Meanwhile, CENTCOM stated it has destroyed 10 Iranian oil tankers over the past week that were part of Tehran’s “multibillion-dollar” shadow fleet network funding the IRGC.

The IRGC Navy has ordered all tankers anchored near Kuwaiti and Bahraini ports to evacuate, “asserting that host countries share responsibility for U.S. military presence in the region,” Windward reported.

By Aparupa Mazumder

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