Hormuz Attack and Pipeline Claims Fuel Oil Market Anxiety
Two vessels were attacked near Oman's Khasab, at the mouth of the Strait of Hormuz, on Thursday. The incident has added to a string of confirmed attacks on shipping in the region since the Iran war escalated earlier this year.
The United Kingdom Maritime Trade Operations (UKMTO) reported that four unknown projectiles struck two vessels approximately four nautical miles west of Khasab, setting one vessel on fire. The status of the second vessel is not immediately known.
Oil markets are digesting two separate developments on Thursday: a confirmed maritime attack and an unverified claim about damage to Saudi Arabia's East-West pipeline. The pipeline, also known as Petroline, carries crude oil from the kingdom's Eastern Province to the Red Sea port of Yanbu, serving as a critical export route while the Strait of Hormuz remains disrupted.
Satellite imagery has fueled talk of a fresh hit on the Saudi pipeline, but it remains unconfirmed. The new images compare Sentinel-3 OLCI satellite passes from 9 and 10 September, with the more recent frame appearing to show a large dark plume near the same stretch of pipeline.