Two oil tankers carrying about two million barrels each caught fire after hitting naval mines in the Strait of Hormuz, Iran's Revolutionary Guards said, further escalating tensions in the vital waterway.
01Summary
- 01Each tanker was carrying about two million barrels of crude oil, according to the IRGC.
- 02The vessels had switched off their positioning and radar systems and used an unauthorised route, Iran's IRNA news agency reported.
- 03Nearly 20.8 million barrels of oil passed through the Strait on October 8, but only 2.9 million on October 11, according to Kpler data.
- 04Attacks around the waterway have surged over the past two weeks, with six vessels attacked in a single day on October 11.
- 05The disruption has pushed up global energy prices and inflation.
02Why it matters
The Strait of Hormuz is a critical chokepoint for global oil shipments; continued attacks threaten energy supplies, driving up prices and inflation worldwide.
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