BREAKING STORY

Tanker Attacks Deepen Near Hormuz as US Quietly Clears Mines

Escalating attacks on tankers in the Gulf have pushed the US Navy into a covert de-mining campaign to keep the Strait of Hormuz open.

Executive takeaway

US Navy divers and robots have been running night-time missions to clear explosives from the Strait of Hormuz as the tanker war between the US and Iran intensifies.

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Crude Prices Track Rising Hormuz Tanker Tensions. WTI and Brent crude futures over the past month, the two benchmarks most exposed to any disruption of tanker traffic through the Strait of Hormuz.

Crude Prices Track Rising Hormuz Tanker Tensions

WTI and Brent crude futures over the past month, the two benchmarks most exposed to any disruption of tanker traffic through the Strait of Hormuz.

Live market prices for WTI (CL=F) and Brent (BZ=F) futures.

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<figure><a href="https://www.indy.finance/news/tanker-attacks-deepen-near-hormuz-as-us-quietly-clears-mines"><img src="https://www.indy.finance/news/tanker-attacks-deepen-near-hormuz-as-us-quietly-clears-mines/graphic.svg" alt="Crude Prices Track Rising Hormuz Tanker Tensions" width="1200" height="675"></a><figcaption>Crude Prices Track Rising Hormuz Tanker Tensions — <a href="https://www.indy.finance/news/tanker-attacks-deepen-near-hormuz-as-us-quietly-clears-mines">Indy Finance</a></figcaption></figure>
The tanker war between the United States and Iran has escalated, with disruption in the Strait of Hormuz deepening in recent days. The Strait is the narrow waterway between Iran and Oman through which a large share of the world's seaborne oil passes. In response, the US Navy has run a covert mission to dispose of explosives in the channel, using divers, boats and robots on night-time trips, according to a Financial Times account of the operation. The scale of the response signals how seriously Washington is treating the threat to a chokepoint that oil shipments depend on. What remains unresolved is how long the disruption will last and whether attacks on tankers continue or spread. Any prolonged closure or slowdown of traffic through the Strait would ripple through global oil markets and shipping insurance costs.
What would change this view

A sustained halt in tanker transits through the Strait of Hormuz, or a formal Iranian announcement of closure, would confirm the disruption is worse than the current picture of intermittent attacks and Navy clearance work.

Wire sources cited

Produced automatically by the INDY NEWS Desk from the public wire sources cited above, and checked against them before publication. Market commentary, not investment advice.