Another oil tanker attacked near Hormuz, possibly the first since March 11! Oil prices surge in the afternoon

Shipping security near the Strait of Hormuz is once again under threat. An unidentified flying object struck an oil tanker in the waters near Fujairah, UAE, which may be the first confirmed attack on an oil tanker in the region since March 11.

According to Xinhua News Agency, the UK Maritime Trade Operations (UKMTO) said on the 17th that an oil tanker anchored in the Gulf of Oman was hit by an unidentified projectile, reportedly sustaining minor structural damage, with no injuries reported. In a statement, the office said the incident occurred 23 nautical miles (about 42.6 kilometers) east of Fujairah, UAE, with no environmental pollution reported.

Shipping agents said that oil loading at the UAE’s oil and gas hub of Fujairah has been suspended. The incident occurred adjacent to Fujairah Port, which is an important alternative export route to the Strait of Hormuz.

According to data cited by ZeroHedge from the UK Maritime Trade Operations (UKMTO), there has not been a confirmed tanker attack in the region for quite some time since March 11.

If further confirmed, this attack would mark the end of this relatively quiet period and rekindle market concerns over the security of Middle East energy transport routes. After the news was released, oil prices rose in the afternoon, at one point surpassing a 5% increase.

Before March 11: 17 Incidents in Rapid Succession

This attack comes after a round of intense conflict. According to CNBC, since February 28 when the US and Israel launched airstrikes against Iran, the Maritime Trade Operations Office (UKMTO) has received 17 incident reports involving vessels in the Persian Gulf, Strait of Hormuz, and Gulf of Oman, including 13 attack reports and 4 suspicious activity reports.

On March 11, UKMTO reported that three cargo ships were allegedly hit by flying objects near the coast of Iran. One vessel reported being hit and catching fire within the Strait of Hormuz, 11 nautical miles north of Oman, forcing the crew to evacuate; another vessel was hit about 50 nautical miles northwest of Dubai, and another was damaged near the UAE coast. Iran’s Islamic Revolutionary Guard Corps subsequently confirmed it had fired at a Thai-flagged container ship passing through the Strait of Hormuz, with photographs showing thick smoke billowing from the ship.

Torbjorn Soltvedt, chief Middle East analyst at risk intelligence firm Verisk Maplecroft, noted in a report on March 11th, “Iran’s rapid and large-scale retaliation against shipping and regional energy, port, and economic infrastructure has cut off a major artery of the global supply chain, with flows of oil, refined products, liquefied natural gas, and chemicals all but stalled.”

Attack Scope Extends to the Production End

According to previous reports by WallstreetCN, during this round of conflict, the scope of attacks on Persian Gulf energy facilities has, for the first time, extended to the production end. The UAE's Shah gas field and Iraq's Majnoon oil field were attacked in succession. Analysts pointed out that previously, the main targets were refineries, terminals, and storage facilities, but this time oil and natural gas production facilities became targets for the first time, signifying a further escalation in threats to the energy supply chain.

Fujairah Port, a key alternative export route for the Strait of Hormuz, was also previously attacked, and this tanker attack likewise took place near Fujairah, indicating the security of this alternative route is also facing a severe test.

The Strait of Hormuz is a narrow maritime corridor connecting the Persian Gulf and Gulf of Oman, with about 20% of the world’s oil and natural gas typically transported through it. Since the outbreak of conflict, shipping volumes on this route have shrunk significantly.

The recent tanker incident near Fujairah once again reminds the market that shipping risks in the region have not subsided. Although the direct losses from the incident are limited—no casualties among the crew and minor damage—the symbolic significance cannot be ignored: after more than six days of relative calm, attacks on tankers have resumed, heating up geopolitical risk premiums in the energy market once again.

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