Middle East war: Oil trading above $100/bbl as more vessels face attacks
Crude oil prices continue to trade above $100/bbl, as more commercial vessels come under air assaults in the Persian Gulf.
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The United Kingdom Maritime Trade Operations (UKMTO) agency reported that a vessel came under attack earlier today, approximately 14 nautical miles (NM) northeast of Lima, Oman.
The tanker’s engine room was struck by two unknown projectiles, the UKMTO reported.
Another commercial vessel was struck by an unknown projectile about 9 NM northeast of Lima, Oman yesterday, causing a hole on the starboard side, the UKMTO said in a separate report.
The vessel was identified as MSV AL JUSUFI by India’s Ministry of External Affairs said in a statement. Thirteen crew members aboard MSV AL JUSUFI were rescued following the attack, while one succumbed to injuries, according to the statement.
The Indian crewed Dhow came under the attack whilst sailing outbound through the Strait of Hormuz, the UKMTO reported.
“The Omani Royal Navy have rescued the surviving crew. UKMTO is unaware of the status of the vessel,” the maritime agency said.
About seven vessels crossed the Strait of Hormuz on Monday - five inbound and two outbound, according to market intelligence provider Windward. One of these vessels moved in dark mode. An average of 129 vessels crossed the strait per day in February, before the war commenced, according to UN Trade and Development.
Seventeen crude tankers off Fujairah, including eight VLCCs, are likely empty. They will likely keep waiting at anchor for a lull in attacks rather than risk a transit, Windward assessed.
Meanwhile, Washington has accused Tehran of spreading false narratives after Iran’s foreign minister publicly claimed the regime has not targeted civilians in neighbouring countries.
Refuting the assertion, the US Central Command (CENTCOM) has stated that Iranian forces have systematically launched strikes against civilian infrastructure, residential neighbourhoods, and commercial shipping lanes across the Gulf.
Iran has “deliberately attacked civilian mariners at sea — killing more than 20 in recent months,” CENTCOM said on social media platform X.
By Aparupa Mazumder
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