Two supertankers hit mines and caught fire in the Strait of Hormuz, raising transit risks

⑴ Iranian sources report that two supertankers caught fire after hitting mines in the Strait of Hormuz.⑵ According to Iran, one of the tankers was carrying over 2 million barrels of crude oil, had disabled its positioning and radar systems, and attempted to transit without authorization, subsequently hitting a mine and exploding.⑶ Iran also stated that another supertanker previously likewise disabled its positioning and radar systems in an attempt to bypass the strait.⑷ Iran emphasized that the Strait of Hormuz is currently closed, and vessels violating Iranian regulations will bear the consequences.⑸ The United Kingdom Maritime Trade Operations office did not comment on the above attacks but confirmed that a ship near the coast of Saudi Arabia was targeted by rockets fired from small boats on Friday.⑹ The agency also reported that a liquefied natural gas carrier was fired upon twice by small boats about 140 nautical miles south of Mukalla, Yemen, with onboard security personnel firing warning shots to drive the boats away.⑺ Iran, in response to U.S. and Israeli airstrikes on targets within its borders, has restricted passage through the Strait of Hormuz, a critical Middle Eastern oil export route, thereby pushing global oil prices upward.⑻ Further attention should be given to the length of continued transit restrictions in the strait and the security situation near the Bab el-Mandeb Strait, as the risk premium for energy transport may remain elevated.