2 tankers explode in Hormuz as attacks cut traffic and lift oil
Why it matters: Ship transits fell to eight on Thursday from 15 a day earlier, deepening supply fears across a key oil chokepoint.
Two oil tankers exploded after hitting mines in the Strait of Hormuz, Iran’s Revolutionary Guards said on July 18, as U.S. strikes on Iran entered a seventh straight night and shipping through the waterway slowed sharply. CNBC reported that at least nine ships have been attacked since July 6, with one seafarer killed and 14 others injured in two tanker attacks off Oman on Tuesday. Kpler data showed just eight vessel transits on Thursday, down from 15 the previous day. Brent crude stayed near $85 a barrel after a three-day rally, while West Texas Intermediate held below $80 as traders weighed the risk of prolonged disruption to flows from the Gulf.