Strait of Hormuz: The unrelenting crisis in the Persian Gulf continues

The front-month ICE Brent contract continues to trade near the $90/bbl mark as ongoing tensions in the Middle East show no signs of de-escalation.

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Merchant vessels continue to come under attack while attempting to pass through the Strait of Hormuz, the United Kingdom Maritime Trade Operations (UKMTO) reported.

A commercial tanker was struck by an unknown projectile about 8 nautical miles (NM) northeast of Limah, Oman, the UKMTO reported today. “The crew have abandoned the vessel and are currently embarked in a lifeboat,” the UKMTO said.

Another vessel was struck 17NM east of Dibba, the UAE, causing damage to the steering gear, the maritime watchdog reported.

Shipowners and operators are growing increasingly reluctant to navigate the Strait in either direction in the wake of these renewed hostilities. Nearly all ships attempting passage through the region have sailed incognito – disabling transponders to dodge detection.

“Oil prices are on the rise as the US-Iran war enters a dangerous new phase and flows through the Strait of Hormuz grind to a renewed halt,” ING Bank’s analysts said.

Meanwhile, the US Central Command (CENTCOM) has completed another round of strikes against Iran, targeting its maritime capabilities, missile and drone launch sites, and air defense systems.

The latest round of attacks come in response to Tehran’s actions earlier this week – killing US service members in Jordan and Iraq.

“Every time Iran kills an American Soldier they will pay for that killing many times over!” US President Donald Trump wrote on social media platform Truth Social.

By Aparupa Mazumder

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