Global oil markets faced renewed pressure after a Kuwait-owned tanker was hit by an unidentified projectile near the Strait of Hormuz, raising fresh concerns over disruptions to one of the world’s most important oil transit routes.
The vessel, Kaifan, owned by Kuwait Oil Tanker Co. S.A.K., was struck while operating near the Strait, according to security firm EOS Risk Group, cited by Bloomberg.
The United Kingdom Maritime Trade Operations (UKMTO) said it received a report of an incident involving a tanker located about 8 nautical miles northeast of Limah, Oman.
The tanker reported through emergency communication channels that it had been hit by an unknown projectile. The vessel’s security officer later informed UKMTO that the crew had abandoned the ship and were safely transferred to a lifeboat. No oil spill or environmental impact has been reported.
The attack comes as commercial shipping through the Strait of Hormuz has nearly come to a standstill amid escalating regional tensions and repeated incidents involving vessels passing through the strategic waterway.
Several tanker operators have suspended or delayed voyages through the route, which is a crucial passage for global energy supplies, increasing fears of potential shortages.
The situation intensified after Iran’s Islamic Revolutionary Guard Corps Navy said it had intercepted four vessels attempting to cross the Strait, alleging that some had switched off their tracking systems. Iranian authorities said two of the vessels were stopped after incidents during the encounter.
With tanker traffic falling sharply to around a two-month low, traders are increasingly worried about supply risks, particularly during the peak summer demand season.
Further pressure emerged after Yemen’s Iran-backed Houthi movement announced a naval blockade targeting Saudi Arabia, expanding regional risks toward the Red Sea route used by Riyadh to maintain exports when Hormuz faces disruptions.
Brent crude prices climbed back above $90 per barrel following the latest developments, with markets now watching whether prolonged disruption around Hormuz could push oil prices closer to $95 per barrel.
