Iran and US hit tankers in biggest wave of attacks on shipping since war began
GlobeVerge has tracked this story since 1h ago.
CAIRO/WASHINGTON/DUBAI — Iran said on Wednesday it had attacked 10 ships near the Strait of Hormuz after the U.S. sank five Iranian oil tankers, in the biggest declared wave of tit-for-tat attacks on shipping by both sides since the start of the six-month-old war. The attacks sent the price of oil surging, with benchmark Brent crude futures breaching $100 a…
- Why it matters
- Attacks on shipping in the Strait of Hormuz directly raise oil prices by disrupting supply through a critical chokepoint; the excerpt shows this happened immediately, with Brent crude breaching $100.
- Most affected
- Oil consumers and businesses relying on fuel — Face higher energy costs as oil prices surge in response to shipping disruptions.
Shipping companies operating in the Persian Gulf — Ships and cargo face direct risk of attack in the disputed waters. - Likely next
- Whether further attacks are declared by either side and how oil prices respond in the days ahead.
More in Conflict
- 'Political Kryptonite': Republicans Fear Midterm Risks From Trump Trade War
- Criminal Record: Knife thug stranded on 20ft fence as bomb threat probe launched
- Pentagon codifies fitness standards across branches
- Madman who went on violent rampage at Midtown synagogue during services arraigned on hate crime indictment