Global oil prices climbed above $90 per barrel on Tuesday after fresh attacks on oil tankers in the Strait of Hormuz heightened concerns over a prolonged disruption to crude oil supplies from the Middle East.
Brent crude crossed the $90 mark following reports that a Kuwait-owned oil products tanker was struck by an unidentified projectile near Oman, while Iran’s Islamic Revolutionary Guard Corps (IRGC) claimed that two oil tankers caught fire after explosions in the strategic waterway.
According to Oilprice.com, the Kaifan tanker, owned by Kuwait Oil Tanker Co. S.A.K., was hit by an unknown projectile in the Strait of Hormuz, citing maritime security consultancy EOS Risk Group.
The United Kingdom Maritime Trade Operations (UKMTO) also confirmed receiving reports early Tuesday of an incident about eight nautical miles northeast of Limah, Oman.
In an advisory, the UKMTO said it received multiple reports over VHF Channel 16 that a tanker had been struck by an unidentified projectile in the Strait of Hormuz.
The agency added that the vessel’s Company Security Officer informed it that the crew had abandoned the ship and evacuated in a lifeboat, noting that no environmental damage had been reported.
The latest incident comes amid a sharp slowdown in shipping through the Strait of Hormuz following a series of attacks and reported harassment of commercial vessels, prompting several tanker operators to suspend voyages through the vital maritime corridor.
Late last week, Iran’s Islamic Revolutionary Guard Corps Navy announced that it intercepted four vessels attempting to pass through the Strait of Hormuz after their transponders were switched off, claiming two of the ships were involved in incidents that forced them to halt.
The disruption has reduced tanker traffic through the Strait to its lowest level in two months, raising fears of supply shortages during the peak summer demand season.
Regional tensions escalated further after Yemen’s Iran-backed Houthi movement announced an immediate naval blockade of Saudi Arabia, threatening an alternative export route used by the kingdom to bypass the Strait of Hormuz.
Meanwhile, IranWire reported that the IRGC claimed two oil tankers attempting to use what it described as the “southern route of the Strait of Hormuz” suffered severe fires after explosions and were forced to stop.
In a statement issued on Tuesday, the IRGC described the vessels as “violators,” alleging that they attempted to navigate the southern corridor before being disabled by the explosions.
The group said search and rescue teams were evacuating the affected crews.
The IRGC also warned international shipping companies against using what it described as “dangerous” routes, insisting the Strait of Hormuz would remain closed while United States military strikes continued.
It further declared that “not a single drop of oil, gas, or petrochemical products” would pass through the waterway without the authorisation of the Islamic Republic.
IranWire also noted that the UKMTO separately confirmed reports of a tanker damaged by an unidentified projectile in the southern Strait of Hormuz, forcing its crew to abandon the vessel, although the agency did not identify the ship or its owner.
It remains unclear whether the vessel referenced by the UK authority is one of the two tankers the IRGC claimed were struck or a separate incident.
According to the IRGC, the southern route refers to a shipping corridor designated by Oman for foreign vessels under a memorandum of understanding between the United States and Iran—an arrangement Tehran rejects in favour of the northern route under Iranian control.
The latest attacks have intensified concerns over the security of one of the world’s most important oil transit chokepoints, with energy markets closely watching developments for their impact on global crude supplies.
Oil prices had fallen to about $71 per barrel in June after the United States and Iran agreed to a ceasefire, easing tensions and lowering fuel prices.
However, the renewed exchange of strikes between Washington and Tehran, coupled with the renewed closure of the Strait of Hormuz, has driven oil and fuel prices sharply higher.
