Iran blocks Hormuz Strait, three tankers hit mines as US clears routes

Iran blocks Hormuz Strait, three tankers hit mines as US clears routes

T
TopeOfLagos in Business & Making Money • October 31, 2026, 6:57 am

Oman's navy rescued 25 crew members from the Panama-flagged crude tanker RITI on Friday after an attack set the vessel ablaze in the Gulf of Oman. Simultaneously, Iran's Revolutionary Guards halted three oil tankers in the Strait of Hormuz, claiming the vessels used an "unauthorized route" and struck naval mines. One supertanker carrying two million barrels of oil exploded and caught fire, marking the third tanker incident that day.

The Strait of Hormuz normally carries about a fifth of global oil supply. Iran has restricted maritime traffic through the waterway since February 28, when US-Israeli strikes triggered the current Middle East conflict. Tehran now demands ships use a designated northern corridor and coordinate with Iranian forces, labelling the southern route near Oman as unauthorized.

US Central Command chief General Brad Cooper said American forces have "successfully cleared the strait's internationally recognised primary transit routes of Iranian sea mines" and remain present to keep them open. Washington has helped Gulf countries export over 1.5 billion barrels through the strait since summer. The US has responded with a counterblockade of Iranian ports, further squeezing Tehran's oil exports.

UKMTO confirmed a vessel 40 nautical miles south of Iran's Lavan Island was struck by an unknown projectile Friday, though crew are safe. The IRGC says the targeted tankers switched off navigation systems and disregarded radio warnings.

With 20% of world oil flowing through this chokepoint, how will prolonged disruption affect petrol prices at Nigerian pumps and the cost of imported goods?


SOURCE: https://www.channelstv.com/2026/10/31/oman-rescues-25-from-burning-ship-set-ablaze-in-fresh-attack/


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