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Container ship sinks near Hormuz after being hit by projectile, sources say
On Wednesday, a tanker and a container ship were hit by projectiles of unknown origin in the Strait of Hormuz, the United Kingdom Maritime Trade Operations reported.
Iran has maintained a blockade of the strategic waterway since the start of the regional conflict, repeatedly warning vessels against transiting the strait without its approval.
The Revolutionary Guard Corps navy stated Wednesday that a cargo ship sank after hitting a naval mine, claiming the vessel traveled on an "unauthorised and dangerous route."
Global oil prices climbed Wednesday as supply concerns intensified, with analysts projecting West Texas Intermediate to trade between $90 and $100 a barrel.
Market strategist Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment, said "supply concern stemming from conflict between the Houthis and Saudi Arabia" is driving prices higher, though Russian diesel exports could moderate movement.
Iran is intensifying its attacks in the Strait of Hormus. Two ships were sunk in the attempt of passage. Another could be damaged from the danger zone.
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Way Too Early with Ali Vitali discuss Iran’s intensified strikes in the Strait of Hormuz, including a Singapore-flagged container ship sinking, and the impact on global oil ahead of U.S. midterms