Iran-Trump war latest: Oil prices soar again after two Iraqi tankers struck in suspected Iranian attack – UK Times

Iran has escalated attacks on merchant vessels in the Gulf and Strait of Hormuz, with at least six ships struck in the past 24 hours, bringing the total number hit since the war began to at least 16, Reuters reported.

Explosive-laden Iranian boats attacked two fuel tankers in Iraqi waters – the Marshall Islands-flagged Safesea Vishnu and the Malta-flagged Zefyros – setting both ablaze and killing one crew member. “A boat belonging to the Iraqi Ports Company rescued 25 crew members from the two vessels, and the fires are still burning on both ships,” said Farhan al-Fartousi, director general of Iraq’s ports authority. Iraq’s oil ports have completely stopped operations following the attacks.

The Thai-flagged Mayuree Naree was struck in the strait yesterday, with three crew members still believed to be trapped, its operator Precious Shipping said. Early this morning, a container ship was struck near Jebel Ali in the UAE, causing a small fire, the UK Maritime Trade Operations centre said. Three other vessels sustained minor damage. All other crew are reported safe.

Oman has moved all vessels out of its main oil export terminal at Mina Al Fahal as a precautionary measure. Iran’s Revolutionary Guards have warned they will not allow “one litre of oil” to be shipped from the Middle East to the US, Israel or their partners, and have told the world to brace for oil at $200 a barrel.

US and Israeli strikes have damaged at least four cultural and historical sites in Iran, including two palaces and the country’s oldest Friday mosque, Unesco has confirmed.

Verified damage includes the Qajar-era Golestan Palace in Tehran, the 17th-century Chehel Sotoun palace and the Masjed-e Jame mosque in Isfahan, and buildings near the Khorramabad Valley, which contains prehistoric caves with evidence of human occupation dating to 63,000 BC. Iran and Lebanon have asked UNESCO to add more sites to its enhanced protection list.

“It causes harm to civilians because it damages or destroys a piece of their history that can be significant both to the world and also to a specific region or community,” Bonnie Docherty, senior researcher at Human Rights Watch, told AP.

Unesco said it had provided all parties with the geographical coordinates of heritage sites ahead of time. It was unclear whether US or Israeli strikes caused the damage. The Pentagon did not comment.

Former US Congresswoman Marjorie Taylor Greene has gone on a rant against U.S. military intervention in Iran.

Greene, who used to be a fervent supporter of US President Donald Trump before the two had a public falling out, complained about the death toll in the Iran war and shared concerns over oil prices.

A container ship has been hit by an unknown projectile near the UAE port of Jebel Ali, the UK Maritime Trade Operations centre has said today.

The strike caused “a small fire onboard” and a full damage assessment was impaired by darkness. “All crew are reported as safe” and “no environmental impact has been reported at this time,” the agency said.

Three crew members are believed to be trapped aboard a Thai bulk carrier after it was hit by two projectiles while travelling through the Strait of Hormuz yesterday, the vessel’s owner said, according to AFP news agency.

Iran’s Revolutionary Guards claimed responsibility for the attack on the Thai vessel. Two other cargo ships, one from the Marshall Islands and one from Japan, were also reportedly struck in the same area.

Oman has shifted all vessels out of its main oil export terminal at Mina Al Fahal, outside the Strait of Hormuz, as a precautionary measure, Bloomberg News reported, citing recipients of a port agent’s notice.

US Energy Secretary Chris Wright was pressed Wednesday by Fox News host Laura Ingraham on the next step for American forces in the Iran war after three ships around the Strait of Hormuz were hit.

Three cargo ships — one from Thailand, one from the Marshall Islands and one from Japan— were reportedly struck earlier Wednesday around the Strait of Hormuz. Iran’s Revolutionary Guards claimed responsibility for the attack on the ship from Thailand.

“So, Mr. Secretary, three ships near the strait were hit by projectiles over the past 24 hours. What now”? Ingraham asked Wright.

Wright started going on a tangent about Iran being a “murderous, terrorist regime” before the Fox News host interrupted and said, “If you have crews on these ships that are afraid for their lives, how do you break this logjam in this critical waterway”?

“The most critical thing right now is US military degrading their ability to project power,” Wright replied. “Not just missiles for long range but also their assets that impede travel through the Strait of Hormuz.

“So it will take us some time to do that, but there is an awesome power of the U.S. Military; soldiers are doing a great job. And we are every hour of every day degrading their military ability to threaten the ships in the Strait of Hormuz”.

In a since-deleted social media post Tuesday, Wright falsely claimed the US Navy had escorted an oil tanker through the Strait of Hormuz.

Read more on how that one post sent US oil markets into a frenzy:

Stock markets across Asia fell sharply on opening today as oil prices surged past $100 a barrel amid escalating attacks on shipping in the Persian Gulf.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.6 per cent, while Japan’s Nikkei dropped 1.5 per cent. Hong Kong’s Hang Seng lost 1.2 per cent and Chinese blue-chips slid 0.6 per cent. Australia’s ASX 200 fell 1.65 per cent. S&P 500 and Nasdaq futures both declined 1 per cent, pointing to a weak open in the US.

In currency markets, nervous investors sought the safety of the dollar while shunning currencies of net energy importers. The euro slipped 0.3 per cent to $1.1536, its weakest level since November. The dollar rose to 159.12 yen, its strongest since January.

Oil prices have surged 9 per cent today, reaching above $100 a barrel once again following strikes on tankers in Iraq.

Multiple fuel tankers were struck by explosive-laden Iranian boats in Iraqi waters early this morning, with an Iraqi official telling state media that its oil ports “have completely stopped operations.”

Brent crude futures hit $100.22 a barrel, extending a rise of more than 4 per cent overnight. US crude futures were at $95.41 a barrel.

This comes after oil prices rose above $115 on Monday, and then fell below $90 on Tuesday after Donald Trump said the conflict could end soon.

Investors took little comfort from the IEA’s plan to release 400 million barrels from reserves – the largest such move in its history – as part of which the US said it would release 172 million barrels from next week. Iran had earlier warned the world to prepare for oil at $200 a barrel.

“The geopolitical risk premium in oil has produced extraordinary volatility, with prices swinging dramatically as traders react to every headline around the Iran conflict,” said Lukman Otunuga, senior market analyst at FXTM.

Rising energy costs have been stoking inflation fears globally, with several countries ordering rationing of fuels.