Oil Supertankers Struck Near Strait of Hormuz as US-Iran Tensions Escalate

Tensions between the United States and Iran in the Strait of Hormuz heightened following a series of military strikes, with neither side showing an inclination to back down over the vital waterway.

Maritime security consultant Marisks reported that two oil supertankers attempting to exit the strait were struck in quick succession by projectiles. The very large crude carrier Sidr, operated by Saudi Arabia’s Bahri shipping company, was hit northeast of Khasab, Oman. Meanwhile, the Senegal Prosperity, run by South Korea’s Sinokor Group, was struck by three projectiles while traveling east of Oman.

While no group claimed responsibility for the attacks, the incidents followed a resumption of tit-for-tat strikes between Washington and Tehran. The US stated it targeted Iranian rocket launchers preparing to deploy mines into the strait, while Iran retaliated with attacks targeting the United Arab Emirates and Jordan. No strikes were reported on Tuesday.

The recent clashes followed several weeks of relative calm, during which the US administration shifted focus toward economic measures to pressure Tehran. Oil shipments through the strait had recovered to about half of pre-war levels during this lull. However, the renewed conflict pushed Brent crude up by about 2% to over $92 a barrel, with prices up more than 45% since the beginning of the year.

US Treasury Secretary Scott Bessent downplayed the strategic importance of Hormuz, stating it would eventually become irrelevant due to increased oil pipeline usage. Critics noted this perspective overlooks the time required to alter major energy supply routes, as well as the continued transit of commodities such as aluminum and fertilizer through the strait. US President Donald Trump similarly characterized the ongoing conflict as a “little war.”

Diplomatic efforts to resolve the impasse face hurdles. The US and Iran have shown little interest in resuming negotiations following the collapse of an interim peace agreement signed over two months ago. Speaking at the Shanghai Cooperation Organisation summit in Kyrgyzstan, Iranian President Masoud Pezeshkian expressed skepticism regarding formal talks, citing repeated US violations of commitments under the Islamabad memorandum.

Qatar and Pakistan remain active mediators. Qatar’s Foreign Ministry spokesperson noted that mediation efforts are ongoing, and Pakistan Prime Minister Shehbaz Sharif stated that the peace framework agreed upon in Islamabad in June offers the best path forward. Meanwhile, India’s Prime Minister Narendra Modi and other SCO attendees expressed a desire to strengthen relations despite a recent US campaign warning countries against engaging with Iran.

The attacks have drawn attention to Saudi Arabia’s export routes through the waterway. State-owned producer Aramco recently resumed loadings from Ras Tanura and offered cargoes from the Gulf of Oman, having previously diverted flows to Red Sea and Mediterranean ports due to Houthi attacks. Ship-tracking data showed the Sidr anchored near the Omani coast after sailing dark since August 20, while the Senegal Prosperity was last seen leaving Saudi Arabia’s Juaymah in late August before also going dark.

"The recent escalation in the Strait of Hormuz demonstrates how quickly geopolitical instability can disrupt global supply chains and commodity markets. For businesses dependent on international trade, particularly in energy-intensive sectors, rising crude prices introduce immediate cost pressures and inflationary risks. Markets will closely monitor diplomatic developments between the US and regional mediators, as prolonged uncertainty in vital shipping lanes directly impacts operational costs and investment sentiment worldwide." — Dr. Shishir Gupta, Founder & CEO, StartupLanes