Iran Reports More Tanker Fires in Strait of Hormuz

Iran's Islamic Revolutionary Guard Corps reported on Thursday that two oil tankers and a tugboat had caught fire in the Strait of Hormuz. The IRGC stated that one tanker had struck a naval mine while navigating south of the Strait, while another tanker caught fire as it departed from the eastern part of the Strait, and the tugboat assisting it also went up in flames.

The UK Maritime Trade Operations, an affiliate of the Royal Navy, received a report of an incident 50 nautical miles north of Madinat ash Shamal, Qatar, where a tanker was struck by two unidentified projectiles. The crew's status, damage assessment, and environmental impact remain unconfirmed. Incidents involving vessels in the region have escalated recently, coinciding with a decline in crude oil flows from their recent highs.

The IRGC alleged on Wednesday that four oil tankers were destroyed after colliding with naval mines in an area south of the Strait of Hormuz, which Iran declares as a prohibited navigation zone. Despite crude oil exports recovering from spring lows, the security situation in and around the Strait of Hormuz has worsened, with a surge in attacks on tankers over recent weeks.

Crude oil, condensate, and fuel exports from the Middle East dropped to 17.1 million barrels per day in October, compared to 18.9 million bpd in September, according to Vortexa data cited by Reuters. However, tanker-tracking services warn that figures might be revised upwards as additional shipment details surface in the coming days.