24 mins ago
Strait of Hormuz Vessel Strike Raises Global Oil Supply Fears
A ship was hit by an unknown projectile while traveling through the Strait of Hormuz.
Officials did not yet know how badly the ship was damaged or whether anyone was hurt.
Saudi Arabia also temporarily shut down an important oil pipeline after a drone attack.
That pipeline normally carries millions of barrels of oil each day.
These events raised fears that less oil could reach world markets.
Oil prices and U.S. diesel prices rose during the week.
Saudi Arabia asked the United States for military help against the Houthis, but Washington said it would not directly intervene for now.
Iran, Oman, and other countries planned to discuss the Strait of Hormuz.
The meeting was not expected by one Iranian official to produce a signed agreement.
The United Kingdom Maritime Trade Operations agency reported that an unknown projectile struck a vessel in the Strait of Hormuz on Sunday.
Damage to the vessel and the condition of its crew were unknown when the report was issued.
Saudi Arabia temporarily closed its 1,200-kilometer East-West Pipeline after a drone attack reportedly originating in Iraq.
The pipeline had been transporting 4 million to 5 million barrels of oil daily, or about 4% to 5% of global supply.
Saudi Arabia sought U.S. military help against the Houthis, while Iran and Oman prepared for talks on the future of the Strait of Hormuz.
- Who
- The United Kingdom Maritime Trade Operations agency reported the vessel strike; Saudi Arabia, Iran, the United States, Oman, Iraq, and the Houthis were involved in related developments.
- What
- A vessel was reportedly hit by an unknown projectile in the Strait of Hormuz, while Saudi Arabia temporarily closed its East-West Pipeline after a drone attack.
- Where
- The reported strike occurred in the Strait of Hormuz. The pipeline attack occurred south of Medina, and a separate Houthi projectile injured people in Saudi Arabia’s Jazan region.
- When
- The vessel report was made on Sunday; the pipeline closure was announced on Saturday; regional talks were planned for Monday.
- Why
- The incidents heightened concerns about disruptions to oil shipments and energy supplies amid the widening Middle East conflict.
Regional and U.S. Positions
Iranian and Houthi Positions
Responsibility for attacks
Regional and U.S. Positions
U.S. President Donald Trump said Iran was probably responsible for the attack on Saudi Arabia’s pipeline. Saudi Arabia and Iraq said the drone attack originated in Iraq, where Iranian-backed militias operate.
Iranian and Houthi Positions
There was no immediate claim of responsibility for the pipeline attack, and the reported projectile strike on the vessel was not attributed to a specific party.
U.S. military involvement
Regional and U.S. Positions
Saudi Arabia’s Crown Prince Mohammed bin Salman asked the United States for military help against the Houthis. Washington declined to intervene directly for now but offered intelligence assistance.
Iranian and Houthi Positions
The Houthis reportedly asked the U.S. administration not to become directly involved in the conflict.
Control and reopening of the strait
Regional and U.S. Positions
The United States rejects Iran’s demand that its control of the Strait of Hormuz be recognized and that it be allowed to collect fees from ships.
Iranian and Houthi Positions
Iran said the strait would not reopen unless conditions conveyed to the United States were met, and it sought recognition of its control over the waterway. An Iranian official also played down the chances of a breakthrough at the Oman meeting.
Key facts
- Reported vessel incident
- The United Kingdom Maritime Trade Operations agency said a projectile hit a vessel in the Strait of Hormuz.
- Vessel condition
- Damage and crew status were unknown when the report was issued.
- Saudi pipeline
- Saudi Arabia temporarily closed its 1,200-kilometer East-West Pipeline as a precaution.
- Pipeline capacity
- The pipeline had been moving 4 million to 5 million barrels per day, equivalent to about 4% to 5% of global supply.
- Oil prices
- Brent crude rose above $100 a barrel during the week, while U.S. diesel prices exceeded $6 per gallon.
- U.S. response
- The United States said it would not directly intervene against the Houthis for now but would provide intelligence support.
- Planned meeting
- Iran, Gulf Arab states, Oman, and Iraq were expected to discuss the Strait of Hormuz in Oman on Monday.
Quotes
Ebrahim Azizi
Head of the Iranian parliament’s national security committee
“As long as the American side does not accept all of Iran’s conditions, dialogue and negotiation are of no use.”
CNBC TV 18
NDTV
Sources
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