Strait of Hormuz Tanker Attacks Send Oil Prices Soaring Amid Escalating Tensions

Three Liberian-flagged oil tankers were attacked by unidentified projectiles while transiting the Strait of Hormuz, escalating global tensions and driving up international oil prices.

The incidents occurred on Tuesday when the product tanker Al Ruwais, very large crude carrier (VLCC) Mersin Prosperity, and Aframax tanker Sinbad were struck while passing through the strait. All three vessels had switched off their Automatic Identification System (AIS) transponders to reduce detection risk.

The attacks come amid a heightened military presence in the region, with the Pentagon deploying a third aircraft carrier strike group and additional Marine Corps vessels to the Middle East. This move adds approximately 9,000 to 10,000 troops, pushing the U.S. military's total presence in the region beyond 50,000 personnel.

International oil prices surged as a result of the attacks, with Brent crude reclaiming the $100-per-barrel level. West Texas Intermediate (WTI) crude futures rose 2.71% to settle at $92.87 per barrel, while Brent crude futures jumped 4.37% to settle at $102.31 per barrel.