Oil crosses $107/bbl amid repeated vessel attacks

Brent crude’s price has opened the week much higher than its previous close, as the Middle East conflict shows no signs of de-escalation.

IMAGE: Flags of the US and Iran. Getty Images

More commercial vessels came under direct air assault within the Strait of Hormuz yesterday, the United Kingdom Maritime Trade Operations (UKMTO) agency reported.

“A fire has broken out onboard the vessel following the reported attack,” the UKMTO reported.

India’s Ministry of External Affairs has condemned the attack on the commercial vessel MT El Gaia, off the coast of Oman, that left one seafarer missing.

“Of the 14 Indian crew onboard, 13 Indians have been rescued so far,” India’s external affairs ministry said.

Washington maintains its blockade of Iranian ports

The US has claimed to hold an ironclad grip on maritime transit in the Strait of Hormuz, enforcing a total naval chokehold that has frozen commercial traffic in and out of the region.

As of yesterday, CENTCOM has redirected 101 commercial vessels, disabled more than three, and boarded two to prevent ships from entering or departing Iranian ports, it said.

“ZERO ships have passed through the blockade without U.S. forces allowing,” CENTCOM said.

As of Friday, only 10 vessels attempted to transit the Strait of Hormuz – six inbound, four outbound – Windward reported, as vessel traffic remains well below the pre-war average of 140 daily transits.

By Aparupa Mazumder

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