Iran Claims Seven Ships Hit in Persian Gulf as Oil Prices Surge

Iran's Islamic Revolutionary Guard Corps IRGC Navy announced on Thursday that seven ships, including oil tankers, were either targeted by Iranian forces or struck by mines in the Persian Gulf over the course of the previous day. The IRGC Navy stated that four of the targeted tankers were involved in oil transfers in the northern Persian Gulf, while three others were hit by mines west of the Strait of Hormuz.

The military force also issued a stern warning to the United States, stating that if provocations persist, a wider response could be directed towards regional U.S. bases. This declaration follows the expansion of attacks by Iran-aligned Houthis in Yemen on Saudi Arabian infrastructure, with hits on facilities, such as one near the Shaybah oilfield.

On Wednesday, the attacks resulted in the death of two individuals and injuries to two others due to debris from intercepted drones near the processing plant at the Shaybah field, which is one of the largest oilfields in Saudi Arabia. Although operations at the Shaybah field and its processing facilities have not been disrupted, the attack has caused market jitters once again, given concerns about potential disruption to Saudi oil exports, especially as the country has largely resumed its exports through the Strait of Hormuz and the Red Sea.

Oil prices experienced a 2% increase in Asian trading on Thursday, with Brent Crude futures reaching above $111 per barrel following the Houthi strikes on Saudi targets. The escalating attacks by the Houthis on Saudi Arabian infrastructure have prompted the United States to order non-essential government personnel and diplomats, along with their families, to leave the Kingdom.

The Houthis claim their actions are in response to the Saudi-led coalition's offensive in Yemen, which aims to regain control over territory in the southwest of the country and the crucial Bab el-Mandeb Strait.