Iran's Revolutionary Guards say two tankers hit mines in the Strait of Hormuz and a supertanker sank. No one has independently confirmed the claim, but it could add to the risk premium in oil when futures reopen on Sunday evening.
Iran's Revolutionary Guards said on Sunday that two oil tankers struck naval mines on what Tehran calls an unauthorised route through the Strait of Hormuz. They said one of the vessels, a supertanker carrying more than 2 million barrels of crude, sank in the southern Gulf. There was no independent confirmation of either incident.
Two Iranian accounts that differ
According to a statement carried by Iranian state television, the IRGC Navy said both vessels had their transponders switched off and the second tanker was still burning. The Guards did not disclose the names or flags of the ships, and gave no information on the crews.
However, Iran's regular Army Navy described a single tanker with its navigation systems off that hit a mine and caught fire in a prohibited zone east of the strait. The two accounts differ on the number of ships, the location and whether a vessel sank, and it is unclear whether they describe the same events.
Meanwhile, the UK Maritime Trade Operations centre said it was aware of a report from Indian shipping authorities of an attack on a tanker in the Gulf, but could not say whether it was the same incident.
What it means for oil
investingLive says a claimed sinking of a fully laden supertanker in the world's most important crude chokepoint is likely to add to the risk premium in Brent and WTI when markets reopen, even without independent confirmation. Futures reopen at 6pm Sunday, US Eastern time.
The bigger risk concerns behaviour rather than barrels, according to the source. If shipowners conclude that US-cleared lanes and covert transits are not safe, Hormuz flows could shrink further, and freight rates and war-risk insurance costs could climb. If the claims prove overstated, part of any initial jump could fade quickly.
The claims follow a series of similar announcements from Tehran in recent weeks. The US military has said it has cleared mines from the main shipping lanes, and the US has imposed a naval blockade on Iranian ports.
Source: investingLive
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