An unidentified projectile struck and disabled an oil tanker off Oman on Monday, the latest in a run of attacks on Gulf shipping. The same day, the U.S. Treasury widened sanctions on Iran, targeting 60 individuals, entities and vessels while stopping short of penalizing Chinese banks tied to Iranian oil flows.
UKMTO said it received a report of an incident around 9 nautical miles northeast of Ash Shishah, Oman, after the master of an oil tanker reported the vessel had been struck by an unknown projectile. The strike damaged the engine room and left the tanker disabled, though the crew are reported safe and the environmental impact remains unknown.
The agency, which monitors shipping across the Gulf, Red Sea and wider Indian Ocean, did not identify the vessel, its flag, or the source of the projectile. The tanker was transiting the U.S. protected lane when it was hit, adding to a string of reported attacks on merchant shipping in the region, including a previous strike on a tanker off Yanbu, Saudi Arabia.
Treasury widens Iran sanctions
The U.S. Treasury Department announced new sanctions on 60 individuals, entities and vessels tied to Iran on Monday, though the list did not include any Chinese financial institutions suspected of facilitating Iran's oil trade. Treasury Secretary Scott Bessent said other countries would need to sever business ties with Iran or risk being cut off from the dollar-based financial system, without naming which countries could be targeted.
Oil prices fell more than $2 a barrel on Monday, even as investors braced for further supply disruptions from the Middle East. Iran's Economy Minister, Ali Madanizadeh, responded that "We are fully prepared for the U.S. sanctions."
Iran warns shipping over Hormuz
Earlier Monday, Iran issued a new warning to shipping not to pass through the Strait of Hormuz without its permission, listing 45 ships it said had violated its rules and threatening retaliation for any ship-to-ship transfers with them. A spokesperson for Iran's Islamic Revolutionary Guard Corps vowed heavy blows to U.S. interests and energy chokepoints if Iran's infrastructure is threatened, according to Press TV.
Nearly six months have passed since the U.S. and Israel launched strikes on Iran, a conflict that has snarled shipping in the region and reduced the flow of crude oil. Iran has preserved enough missile and drone capability to threaten oil tankers in the Strait of Hormuz, bringing shipping in the key waterway to a near standstill.
Sources: Investinglive RSS Breaking News Feed, Commodities & Futures News
Trading involves risk.
Risk Disclaimer
