Iranian cruise missiles struck two Emirati oil tankers in the Strait of Hormuz early Tuesday, killing one crew member and wounding eight others, the United Arab Emirates said, as the US carried out a third consecutive night of strikes against Iran.
The attack occurred while the tankers were transiting the southern lane of the vital energy route in Omani territorial waters. It came just hours after Donald Trump announced the US would reinstate its blockade of Iranian shipping in the Gulf, starting at 4pm ET on Tuesday. The president said the US would begin charging ships a 20% fee “for any and all costs necessary” to provide security and safety for vessels transiting the Strait of Hormuz.
“Iranian cruise missiles hit two UAE oil tankers in the Strait of Hormuz, killing one crew member.”
“The strait will stay open with or without Iran,” Trump said, in an apparent policy reversal from the peace deal agreed just a month ago. Iran’s top joint military command said the US had no role in determining the strait’s future and would not be allowed to intervene. Foreign minister Abbas Araqchi said Tehran would “forever” be the guardian of the waterway.
Explosions were reported in the Iranian port city of Bandar Abbas, on the islands of Kish and Qeshm, and on Abu Musa Island in the Gulf shortly after the US military announced the renewed strikes. An explosion at Bandar Abbas naval base was captured by US attack drones.
The escalating conflict sent oil prices jumping. Brent crude futures climbed 2% to $84.98 a barrel, after surging 9.6% in the previous session – its biggest daily gain since May 2020. US West Texas Intermediate crude rose 2.1% to $79.79. Resurgent prices could cement a fourth interest rate rise in Australia this year if the conflict is not resolved within a week, economists warned.