Middle East conflict: Oil steady as US, Iran trade counter-accusations

Brent crude’s price has held above the $105/bbl threshold, as Washington and Tehran exchanged a fresh series of counter-accusations over maritime control and military casualties in the Middle East.

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The US Central Command (CENTCOM) flatly dismissed three separate claims issued by Iran’s Islamic Revolutionary Guard Corps (IRGC) amid escalating regional hostilities.

Iran's IRGC claimed that a Singapore-flagged containership struck a naval mine south of the Strait of Hormuz on Wednesday and tanked.

The US CENTCOM rejected the claim, calling it “false” on social media platform X.

According to CENTCOM, the container vessel in question, M/V GFS Pride, sank after being hit by an IRGC projectile while being towed to shore.

Market intelligence provider Windward similarly noted that Tehran's mine claims remain unverified and uncorroborated by tracking data.

The IRGC also claims to be in complete control of the Strait of Hormuz. CENTCOM likewise refuted IRGC's statements, claiming total operational control over the region.

The US Navy maintains that it exercises firm control of the narrow corridor and routinely coordinates escorts for compliant vessels.

“Commercial ships continue to flow through the Strait of Hormuz (whose primary routes remain clear of mines), with more than 40 ships moving in the last 24 hours,” CENTCOM said.

However, data from Windward has presented a stark contrast, reporting that only six vessels attempted to transit the Strait of Hormuz yesterday - two inbound and four outbound. Two of these vessels moved in dark mode, as vessel traffic remains well below the pre-war average of 140 daily transits.

Finally, CENTCOM has repudiated a third IRGC claim alleging that Iranian strikes have killed “hundreds of US service members” in Jordan.

The US military command has branded the report as disinformation, confirming that no such mass casualties have occurred and noting that only three US service members have been killed in action since July, when partner forces successfully intercepted and defended against a series of Iranian attacks.

By Aparupa Mazumder

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