DUBAI — Oil prices rose sharply on Sunday after a tanker was struck in the Strait of Hormuz, intensifying concerns over the security of one of the world's most important energy shipping routes amid renewed military exchanges involving the United States and Iran. Maritime authorities confirmed the latest shipping incident, while governments and industry participants monitored developments in the Gulf.
The incident has renewed attention on the Strait of Hormuz, a strategic waterway through which a significant share of globally traded crude oil and petroleum products passes. Any disruption to commercial shipping in the corridor can affect energy markets, freight costs and supply chains. Market participants said the latest attack added to geopolitical risk premiums already reflected in crude prices following several days of escalating regional tensions.
The United Kingdom Maritime Trade Operations (UKMTO), which provides maritime security information for commercial shipping, said the vessel was struck by an unidentified projectile within the Strait of Hormuz after the ship's master reported the incident. UKMTO did not publicly identify the vessel or assign responsibility for the attack.
Hours after the reported strike, U.S. Central Command said it carried out additional strikes against targets in Iran, describing the action as a response to what it called continued aggression against international shipping. Iranian state media later reported explosions in southern Iran, while Iranian authorities publicly accused the United States of violating an interim agreement reached earlier this month. Washington and Tehran have exchanged competing accusations over responsibility for the renewed hostilities, and neither side's claims could be independently verified.
The International Maritime Organization (IMO) has repeatedly urged all parties to protect civilian shipping and seafarers. "No attack on innocent seafarers or civilian shipping is ever justified," IMO Secretary-General Arsenio Dominguez said in an earlier official statement addressing attacks in and around the Strait of Hormuz. The organization has also called for freedom of navigation to be respected under international law and said it continues to monitor the security situation closely.
The IMO separately announced this week that it had paused elements of its regional evacuation operation for seafarers after another attack on a vessel pending further assessment of security conditions. The organization said the safety of crews remained its highest priority.
As of Sunday, maritime security advisories remained in effect and commercial operators continued to monitor official guidance while authorities investigated the latest tanker incident. No comprehensive official assessment of the damage to the vessel or any confirmed casualties had been released.
