Tensions around the Strait of Hormuz intensified on Wednesday after Iran said it had attacked 10 ships near the strategic waterway, following US strikes that destroyed five Iranian oil tankers.
The US military said it targeted the five tankers after Iran’s Islamic Revolutionary Guard Corps (IRGC) launched ballistic missile attacks against a US Navy warship. The US said the crews had been warned to abandon the vessels before the strikes.
Iran subsequently announced attacks on ships near the Strait of Hormuz and also launched ballistic missiles towards a US military base in Jordan. The developments represent one of the most serious waves of attacks on shipping since the six-month-old conflict began.
The latest escalation has raised fresh concerns for commercial vessels and crews operating around the Gulf. It has also pushed oil prices higher, with Brent crude rising above $100 a barrel for the first time since July as traders worry about disruptions to global energy supplies.
The Strait of Hormuz is particularly important to global maritime trade because it carries a significant share of the world’s oil and liquefied natural gas shipments. Continued attacks could therefore affect shipping costs, energy prices and international supply chains.
