An Iranian missile struck a UAE tanker in the Strait of Hormuz early Saturday, the fourth such attack on Abu Dhabi's vessels this week. Iran's Revolutionary Guard says the strait reopens only on Tehran's own terms, even as Iran and Oman edge toward a deal on shipping through the waterway.
Fourth attack on UAE shipping this week
An Iranian missile hit an Abu Dhabi National Oil Company vessel as it transited the Strait of Hormuz in the early hours of Saturday. ADNOC said in a statement that "the incident resulted in no injuries, and the situation has been brought under control." The United Arab Emirates condemned the strike in a post on X, calling it an attack on an ADNOC-affiliated tanker passing through the strait.
Saturday's attack was the fourth on Emirati vessels this week. Adnoc said 15 of its vessels have been targeted in the strait since the war erupted, including three in the past week, causing one fatality and 20 injuries, though it reported no casualties from Saturday's strike. Tehran's ability to effectively close the strait — an open, untolled waterway before the US-Iran war began Feb. 28 — has driven up gas prices and stoked concern over crude oil reserves.
Reopening talks continue without a deal
Iran's Revolutionary Guard says the strait's reopening depends only on Tehran's own conditions, unrelated to the separate talks between Iran and Oman. Yet Treasury Secretary Scott Bessent said Tuesday that an agreement on freedom of movement through Hormuz could arrive as soon as Wednesday — a deadline that passed without an announcement.
Ship traffic through the strait fell 33% Friday compared with the previous day, with most vessels rerouted through Iranian waters, according to the trade intelligence firm Kpler. Iran and Oman are negotiating a system under which inbound traffic would transit Iranian waters while outbound traffic would go through Omani waters.
Iran's foreign minister, Abbas Araghchi, said Saturday the two countries were nearly finished negotiating the legal framework for managing the strait, but added that reopening also depends on the US compensating for violations of a June interim deal. Separately, Iranian state media published a draft plan Thursday that would bar US and Israeli vessels and block other nations it says have harmed Iran until they pay compensation; the plan is under review in Iran's parliament.
Oil prices edge higher
Oil prices rose Friday as traders awaited a deal to reopen Hormuz to free navigation. Brent crude gained more than 1% to close at $83.55 a barrel. West Texas Intermediate advanced about 1% to settle at $78.18. Oil prices, however, fell more than 7% for the week.
The conflict is broadening across the region, leaving Gulf energy infrastructure and shipping choke points exposed to renewed geopolitical risk.
Sources: CNBC, Financial Times
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