Middle East conflict: Oil above $105/bbl amid vessel attacks

Brent crude’s price has moved above $105/bbl once again, following repeated attacks on oil tankers and commercial vessels transiting the Persian Gulf region.

IMAGE: Getty Images

A crude oil tanker was struck by an unknown projectile, whilst conducting an outbound transit of the Strait of Hormuz earlier today, the United Kingdom Maritime Trade Operations (UKMTO) agency reported.

Another tanker was struck by an Uncrewed Aerial Vehicle (UAV) in the vicinity of Oman's Sohar anchorage yesterday, the UKMTO said.

“The Master of an outbound tanker reports being struck on the port side by an unknown projectile, causing a fire on board,” the UKMTO said, referring to a third vessel attack on 11 October.  

Between 11-13 October, the UKMTO has reported at least seven incidents within the Persian Gulf, underscoring the unprecedented maritime security peril in the region.

About 14 vessels attempted to transit the Strait of Hormuz yesterday - eight inbound and six outbound, according to market intelligence provider Windward. Six of these vessels moved in dark mode.

“Damage reports are still incomplete. One outbound tanker had its steering gear room and a water tank damaged and diverted to the Fujairah anchorage,” Windward said.

The latest round of escalation comes following weekend attacks on critical sites in Saudi Arabia, including a strike by Yemen’s Iran-backed Houthi militant group on Riyadh’s King Khalid International Airport, claiming the lives of at least 13 and wounding more than 300 civilians.

CENTCOM disables another cargo vessel

The US Central Command (CENTCOM) disabled a commercial cargo vessel in the Gulf of Oman on 10 October, after the vessel’s crew allegedly ignored “repeated warnings and attempted to run the ongoing naval blockade against Iran.”

The US CENTCOM struck the stern of Panama-flagged M/V Ocean Molica with a precision munition, fully disabling the ship’s propulsion, CENTCOM said.

“The large cargo vessel was attempting to transit regional waters after having previously departed an Iranian port,” the US agency noted, while sharing a video footage of the attack on social media platform X.

Commercial vessels traversing the region continue to face persistent attacks, even as the US Navy maintains that it exercises firm control of the narrow corridor and routinely coordinates escorts for compliant vessels.

CENTCOM has had a blockade in place for ships attempting to enter or depart Iranian ports since 14 July. The operation has redirected 135 commercial vessels, disabled four and boarded two.

Additionally, the US forces have destroyed 10 tankers linked to Iran’s shadow fleet network, it said.

By Aparupa Mazumder

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