Iran’s Islamic Revolutionary Guard Corps struck and halted three oil tankers in the Strait of Hormuz on Wednesday, deepening a crisis that is disrupting global shipping and driving volatility in energy markets, as Tehran simultaneously rejected an Omani proposal for joint management of the strategic waterway.
The IRGC said it "struck and stopped" the vessels after they "continued to move along an unsafe and illegal route, ignoring our warnings," according to the Tasnim news agency. Iranian media separately reported that an oil tanker exploded after hitting a naval mine in the strait, though independent verification of the incident was not immediately available.
The Strait of Hormuz, a narrow passage between the Persian Gulf and the Gulf of Oman, handles roughly one-fifth of the world’s oil consumption. Any disruption to traffic through the chokepoint has immediate consequences for global crude supply and prices.
The latest incidents come as Deputy Iranian Foreign Minister Kazem Gharibabadi confirmed that Tehran had rejected an Omani proposal to jointly manage transit routes through the strait. "We rejected splitting transit routes equally," Gharibabadi told state television. Instead, he said, Iran proposed managing shipping on its side of the waterway while Muscat would manage a portion of the opposite lane.
The Strait of Hormuz has emerged as a central flashpoint in the broader US-Iran conflict. President Donald Trump has repeatedly denounced Iran’s interference with shipping through the strait and hinted at military action to keep the waterway open. The US military has conducted several operations near the strait in recent weeks, including the imposition of a naval blockade on Iranian ports that was temporarily lifted during a brief pause in hostilities.
Shipping companies are already feeling the strain. Insurance premiums for vessels transiting the Persian Gulf and Gulf of Oman have surged, and several major carriers have rerouted cargo around the Arabian Peninsula rather than risk passage through the strait. The cost of bunker fuel has risen sharply as the crisis drags on, with industry groups warning of knock-on effects on consumer goods.
Oil markets have been on edge throughout the conflict. US crude futures fluctuated wildly on Wednesday, briefly jumping above 2 a barrel on news of the tanker strikes before settling lower. Brent crude remained above 7 a barrel, with analysts warning that sustained disruption in the strait could push prices significantly higher.
Analysts at the Center for Strategic and International Studies said Iran’s actions in the Strait of Hormuz represent a calculated bid to exert leverage in any negotiations. "By disrupting shipping, Tehran signals that it has the capacity to inflict economic pain far beyond the battlefield," the analysts wrote.
Maritime security experts say the use of naval mines in the strait raises the stakes considerably, threatening to turn a regional conflict into a global shipping crisis. Clearing mines from the waterway would take weeks or months even under ideal conditions, and commercial traffic would remain at risk in the interim.
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