Home World Three more ships struck in the Persian Gulf as Iran warns of oil prices hitting $200

Three more ships struck in the Persian Gulf as Iran warns of oil prices hitting $200

by Asia Insider

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    A ship is illuminated by fire from a burning vessel, after Iranian explosive-laden boats appear to have attacked two fuel tankers in Iraqi waters setting them ablaze, according to port, maritime security and risk firms, amid the U.S.-Israeli conflict with Iran, in this screengrab taken from a handout video released March 12, 2026.
    Media Office of Iraqi Ports | Reuters

    Three more foreign ships were struck in the Persian Gulf overnight, authorities said, as attacks intensify on vessels sailing through or near the strategically vital Strait of Hormuz.

    The latest incidents come after three separate vessels sustained damage in Gulf waters on Wednesday and as Iran warns oil prices could climb to $200 a barrel.

    A container ship was struck by an unknown projectile about 35 nautical miles north of Jebel Ali, a major port city near Dubai in the United Arab Emirates, the United Kingdom Maritime Trade Operations, or UKMTO, center said on Thursday. The incident caused a small fire onboard, and all crew were reported to be safe.

    Earlier, two foreign oil tankers were left ablaze in Iraqi waters after having been struck near the port of Umm Qasr, close to the city of Basra.

    At least one person was killed in the attack, according to multiple media reports, citing Iraqi port officials, and 38 crew members were rescued from the ships. Iraq’s General Company for Ports was not immediately available to comment when contacted by CNBC.

    A foreign tanker carrying Iraqi fuel oil damaged after catching fire in Iraq’s territorial waters, following unidentified attacks that targeted two foreign tankers, according to Iraqi port officials, near Basra, Iraq, March 12, 2026.
    Mohammed Aty | Reuters

    Shipping traffic through the Strait of Hormuz has virtually ground to a halt since the U.S. and Israel launched airstrikes on Iran on Feb. 28. Iran has retaliated by targeting ships trying to pass through the strait, with several incidents reported in recent days.

    The narrow waterway is a key maritime corridor that connects the Persian Gulf and the Gulf of Oman. Roughly 20% of global oil and gas typically passes through it.

    Attacks on commercial ships in the Gulf have ratcheted up fears of a prolonged economic shock.

    “Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilised,” Ebrahim Zolfaqari, spokesperson for Iran’s military command, said Wednesday, according to Reuters.

    ‘Tool to pressue the enemy’

    Oil prices traded sharply higher on Thursday, shortly after Iran’s new Supreme Leader Mojtaba Khamenei said the Strait of Hormuz must remain closed as a “tool to pressure the enemy.” Mojtaba is the son of Ayatollah Ali Khamenei, who was killed by the U.S. and Israel in opening strikes of the war.

    In what marked his first public statement since being appointed, Mojtaba Khamenei also said all U.S. military bases in the Middle East should close immediately as those bases will be attacked.

    International benchmark Brent crude futures with May delivery traded 8% higher at $99.35 per barrel, while U.S. West Texas Intermediate futures with April delivery rose 8.2% at $94.52.

    Read more U.S.-Iran war news

    The IEA on Wednesday said that its 32 member countries would release 400 million barrels of oil from emergency reserves, marking the biggest coordinated drawdown since the agency was created in the aftermath of the 1973 oil embargo.

    — CNBC’s Lee Ying Shan contributed to this report.

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    Source: CNBC

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