Middle East war: Oil prices rally as US deploys more troops in the region

Crude oil prices have moved higher once again, amid fresh escalation in the Middle East.

IMAGE: Getty Images

At least four commercial vessels came under air assaults while attempting to transit the Persian Gulf this week, the United Kingdom Maritime Trade Operations (UKMTO) agency reported.

One tanker was stuck by an unknown projectile while transiting the Strait of Hormuz yesterday, resulting in a fire, the maritime agency said.

“A verified source has reported that a tanker has been struck by an unknown projectile,” the UKMTO said referring to a separate tanker attack.

As of Wednesday, 16 vessels attempted to transit the strait – six inbound, 10 outbound, market intelligence provider Windward reported. Of this, six vessels moved in dark mode, the data also showed, as vessel traffic remains well below the pre-war average of 140 daily transits.

Two more tankers came under attack within the Strait of Hormuz on 29 September, the UKMTO reported. “A verified source has reported that a crude oil tanker has been struck on the port side by an unknown projectile,” the agency noted.

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

So far, the US CENTCOM has redirected 125 commercial vessels, disabled more than three, and boarded two to prevent ships from entering or departing Iranian ports, it said.

Washington deploys new task force in the region

The US CENTCOM has established what it calls “the first-ever multi-domain, multinational attack drone task force” to reinforce its military presence in the Middle East as regional hostilities persist.

The unit, titled Task Force Falcon Strike, is to utilize one-way attack drones, consisting of unmanned systems from above, on, and below the sea operated by military support staff from the US and regional partners, including Bahrain, CENTCOM said on social media platform X.

The new task force follows the launch of Task Force Scorpion Strike nine months ago - a unilateral US military operation that marked the Pentagon's first dedicated one-way attack drone squadron in the region.

Personnel from US Special Operations Command Central (SOCCENT) will lead Falcon Strike’s staff and regional representatives, CENTCOM said.

“We're excited to welcome Bahrain to Task Force Falcon Strike after the kingdom affirmed its commitment to join CENTCOM in building the world's first multinational attack drone unit,” CENTCOM commander Brad Cooper said.

Additionally, the Wall Street Journal reported that the US was sending a third ​aircraft carrier and an additional marine expeditionary unit of up to 10,000 more troops to the Middle East as President Donald Trump weighed resuming strikes ‌on ⁠Iran following the US midterm elections in November.

“President Trump is also said to have told aides that he expects to resume bombing Iran,” ING Bank’s senior commodity strategist Daniel Hynes said.

“This comes as the US ramps up economic pressure on Iran through the continued blockade of Iran’s ports,” Hynes added.

By Aparupa Mazumder

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