Early Thursday, oil prices surged past the $100 per barrel mark following a series of attacks on six tankers attributed to Iran in the Persian Gulf and the Strait of Hormuz.
The two most recent incidents involved explosive-laden boats targeting the tankers Safesea Vishnu and Zefyros in Iraqi waters. These attacks resulted in at least one crew member’s death and both vessels being set ablaze.
The Islamic Revolutionary Guard Corps (IRGC) of Iran took responsibility for these assaults, releasing a video showing the burning Safesea Vishnu. In the footage, a man’s voice can be heard proclaiming: “Allah is the greatest! The destruction of an American tanker in the northern district of the Persian Gulf! I obey you, Khamenei! Hail be the Islamic Republic of Iran! Soldiers of the Islamic Revolutionary Guard Corps Navy!”
These incidents followed earlier projectile strikes on four ships in the Strait of Hormuz since Wednesday, pushing Brent crude futures to briefly exceed the $100 threshold before settling back to approximately $96.50 per barrel by 7 a.m. ET.
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In response to the escalating situation, President Trump ordered the release of 172 million barrels of oil from the US Strategic Petroleum Reserve. This move aimed to address the sharp increase in gas prices, which have risen by an average of 60 cents per gallon nationwide since the joint military actions by the US and Israel against Iran commenced on February 28.
The IRGC has issued a stern warning that any vessel attempting passage through the Strait of Hormuz, a critical chokepoint for approximately 20% of the world’s oil supply, is at risk of attack.
The IRGC has warned that any vessel which attempts to traverse the Strait of Hormuz, which connects the Persian Gulf with the Gulf of Oman and the Arabia Sea and through which an estimated one-fifth of the world’s oil passes, is subject to attack.
“Expect oil at $200 per barrel,” a spokesperson said in a statement Wednesday aimed at the US. “The price of oil depends on regional security, and you are the main source of insecurity in the region.”
White House press secretary Karoline Leavitt told reporters Tuesday that “thus far, the Trump administration has offered political risk insurance to tankers operating in the Gulf. The Treasury temporarily waived certain oil-related sanctions and the commander in chief has offered the US Navy to escort tankers when necessary.”
Leavitt added that “the US military is drawing up additional options following the president’s directive to continue keeping the Strait of Hormuz open. I will not broadcast what those options look like, but just know the president is not afraid to use them.”
However, multiple sources told Reuters Wednesday that the Navy has so far declined requests to escort tanker ships through the channel, claiming that the risk of attacks remains unacceptably high 13 days into the Middle East war.
Earlier Thursday, the United Kingdom Maritime Trade Operations Centre said an unidentified projectile struck a container ship 35 nautical miles north of Jebel Ali in the United Arab Emirates, causing a small fire. The crew were reportedly safe.
The Thai-flagged Mayuree Naree dry bulk vessel was struck by “two projectiles of unknown origin” while sailing through the strait on Wednesday, causing a fire and damaging the engine room, the ship’s Thai-listed operator Precious Shipping said in a statement.
“Three crew members are reported missing and believed to be trapped in the engine room,” Precious Shipping said.
“The company is working with the relevant authorities to rescue these three missing crew members,” it said, adding that the remaining 20 crew members had been safely evacuated and were ashore in Oman.
Images shared by the Thai news outlet Khaosod English showed what were reported to be crew members of the ship after their rescue by Oman’s navy.
The Japan-flagged container ship ONE Majesty also sustained minor damage on Wednesday from an unknown projectile 25 nautical miles northwest of Ras Al-Khaimah in the UAE, two maritime security firms said.
Japanese owner Mitsui OSK Lines and a spokesperson for Ocean Network Express, its charterer, said the vessel was struck while at anchor in the Gulf and an inspection of the hull revealed minor damage above the waterline.
All crew members are safe, they said, adding that the vessel remains fully operational and seaworthy. The owner said the cause of the incident remained unclear and was under investigation.
A fourth vessel, a bulk carrier, was also hit by an unknown projectile about 50 nautical miles northwest of Dubai, maritime security firms said.
The projectile had damaged the hull of the Marshall Islands-flagged Star Gwyneth, the maritime risk management company Vanguard said, adding that the vessel’s crew was safe. Owner Star Bulk Carriers said the ship was hit in the hold area while it was anchored. There were no crew injuries and no listing.
With Post wires
