Iran Attacks: Shipping in Strait of Hormuz Targeted, Oil Prices Surge – 2026 Update

Sixteen ships have been struck by projectiles in the Red Sea, Gulf of Aden, and Strait of Hormuz in recent weeks, escalating tensions in the critical waterways as conflict between Iran and its adversaries intensifies. The attacks, which began in late February, have brought shipping in the Gulf and through the narrow Strait of Hormuz – a chokepoint for roughly 20% of the world’s oil supply – to a near standstill, sending global oil prices climbing. Despite repeated requests from the shipping industry, the U.S. Navy has so far declined to provide military escorts, citing the elevated risk of attacks.

Escalation in the Gulf and Strait

The latest incidents, reported on Wednesday, involved attacks on two fuel tankers in Iraqi waters – the Marshall Islands-flagged Safesea Vishnu and the Malta-flagged Zefyros – resulting in a fire and one confirmed fatality. Both vessels were loading fuel cargoes in the ship-to-ship transfer area within Iraqi territorial waters. Iraq’s State Organisation for Marketing of Oil (SOMO) confirmed that the Safesea Vishnu was chartered by an Iraqi company contracted with SOMO, and the Zefyros was carrying condensate products from Basra Gas Company. Commercial ports in Iraq remain operational, but oil ports have halted operations following the assaults.

Elsewhere, the Thai-flagged bulk carrier Mayuree Naree was hit by projectiles even as transiting the Strait of Hormuz, causing a fire and trapping three crew members in the engine room. The vessel’s operator, Precious Shipping, reported that the remaining 20 crew members were safely evacuated to Oman. The Japanese-flagged container ship ONE Majesty sustained minor damage from an unknown projectile while at anchor near Ras Al Khaimah in the United Arab Emirates, and a third, unidentified bulk carrier was too reportedly hit. A container ship was struck by an unidentified projectile causing a little fire 35 nautical miles north of Jebel Ali in the UAE on Thursday.

Iran’s Revolutionary Guards and Regional Threats

Iran’s Islamic Revolutionary Guard Corps (IRGC) has claimed responsibility for some of the attacks, warning that any ship passing through the Strait of Hormuz will be targeted. In a statement carried by the Tasnim news agency, the IRGC asserted that the Mayuree Naree was “fired upon by Iranian fighters,” marking the first direct engagement by the Guards. Previously, they had utilized missiles and drones in attacks. The IRGC has also threatened to block all oil shipments from the Middle East to the United States, Israel, and their allies if attacks on Iran continue, stating they would not allow “one litre of oil” to be shipped. Reuters reports that these threats are escalating the conflict with US-Israeli forces.

Historical Context: The Strait of Hormuz and Oil Security

The Strait of Hormuz, a narrow waterway separating Iran and the Musandam Peninsula (shared by Oman and the United Arab Emirates), is one of the world’s most strategically important chokepoints. As detailed by Wikipedia, it is the only sea passage from the Persian Gulf to the open ocean. Its importance dates back centuries, serving as a vital trade route for luxury goods. Historically, control of the Strait has been a source of regional and international tension. The 1980s “Tanker War” during the Iran-Iraq War saw both sides attacking oil tankers, prompting intervention from international naval forces, particularly the United States and Western European states. Britannica notes that while the Strait has never been fully closed, shipping has been disrupted in the past, most recently during the 2026 Iran conflict.

The U.S. Response and Escort Dilemma

Despite the escalating attacks, the U.S. Navy has reportedly refused near-daily requests from the shipping industry for military escorts through the Strait of Hormuz. Sources familiar with the matter indicate the Navy believes the risk of attacks is currently too high to safely provide escorts. This decision contrasts with statements from former President Trump, who asserted the U.S. Was prepared to provide naval escorts if needed and suggested oil companies should continue using the strait, claiming Iran’s naval capabilities had been significantly diminished. U.S. Central Command (CENTCOM) has stated its focus remains on eliminating Iran’s ability to project power against the U.S. And its neighbors, and has shared images purporting to reveal the degradation of Iranian air capabilities.

International Reactions and Diplomatic Efforts

The attacks have drawn condemnation from international bodies and prompted diplomatic efforts to de-escalate the situation. While specific details of these efforts remain largely undisclosed, reports suggest ongoing communication between regional and international actors, including Russia and Pakistan, to seek a peaceful resolution. Iran’s President Masoud Pezeshkian has publicly stated Iran’s commitment to peace in the region, emphasizing the need to recognize Iran’s legitimate rights and secure international guarantees against future aggression. However, these statements are coupled with continued threats regarding oil shipments and regional stability.

Confirmed vs. Unclear Information

Currently confirmed: at least 16 ships have been struck by projectiles in the region since late February. The attacks have disrupted shipping and caused at least one confirmed fatality. Iran’s IRGC has claimed responsibility for some attacks and issued explicit threats. The U.S. Navy has declined to provide escorts due to the high risk.

Unclear: The precise origin of all projectiles remains under investigation. The full extent of damage to vessels is still being assessed. The specific details of ongoing diplomatic efforts are not publicly available. The long-term impact on global oil prices and supply chains remains uncertain.

What Happens Next

The immediate future hinges on a complex interplay of military, diplomatic, and economic factors. Continued attacks on shipping are likely to further disrupt trade and drive up oil prices. The U.S. Navy’s stance on providing escorts will be crucial. a shift in policy could offer some protection to commercial vessels, but also risks direct confrontation with Iran. Diplomatic efforts to de-escalate the situation will likely intensify, but the prospects for a breakthrough remain uncertain given the entrenched positions of the involved parties. Monitoring the activity of the IRGC and assessing the impact of international sanctions on Iran’s economy will be key indicators of the evolving situation. The International Maritime Organization (IMO) is expected to convene emergency meetings to discuss the security situation and potential mitigation measures.