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An oil tanker has been attacked in the strategically crucial Strait of Hormuz, according to authorities in Oman.
Oman’s Maritime Security Centre announced that an oil tanker was attacked around five nautical miles (9.26km) north of Khasab Port.
There were reported to be 20 crew members on board, including 15 Indian nationals and 5 Iranians, all of whom have been evacuated from the ship.
At least four people are believed to have been injured.
Although there has yet to be confirmation of who attacked the vessel, Iran’s Revolutionary Guard Corps is the most probable culprit, after declaring on Saturday that the Strait would be closed to international navigation.
Following the US and Israeli strikes on Iran, the IRGC issued radio warnings that the Strait is closed.
Despite the lack of an official declaration, traffic through the Strait has been severely affected by the renewal of hostilities against Iran. Many ships are now holding off the coast of Oman or turning around.
Major shipowners have halted operations through the Strait, and marine insurers have halted coverage for voyages in the area.
The Strait of Hormuz connects the Persian Gulf to the Gulf of Oman and the Arabian Sea, and is the only sea passage for traffic leaving the Persian Gulf.
At its narrowest, the Strait is just 21 miles wide and is one of the world’s most crucial chokepoints for the flow of oil and liquified natural gas.
Because there are few realistic alternatives for the transport of these resources, any disruption to traffic through the Strait can have significant effects on energy prices and the broader global economy.
Euronews reports that oil prices are already up.
“Oil futures reopen for trading this Sunday evening amid widespread talk of Brent crude hitting $100 per barrel, levels last seen after Russia’s invasion of Ukraine in 2022.
“Analysts at Barclays, among other firms, have explicitly raised forecasts to that threshold, warning that a prolonged halt could block up to 20 million barrels per day, which represents about 20% of global supply.
“The eight OPEC+ countries, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria and Oman, met virtually on Sunday, to review global market conditions and outlook.
“In a press release, they announced a small increase of oil output by 206,000 barrels per day starting in April.
“The statement also informed that the eight OPEC+ countries will ‘hold monthly meetings to review market conditions, conformity and compensation’ with the next conference scheduled for 5 April.”
