Iran has struck another oil tanker in the Strait of Hormuz, with the United Arab Emirates accusing Tehran of targeting a vessel affiliated with Abu Dhabi National Oil Company (ADNOC), adding fresh pressure to a waterway central to global crude and petroleum product flows.
The UAE said the attack hit the ship’s hull but caused no injuries. The incident came a day after Abu Dhabi accused Iran of attacking two other vessels linked to ADNOC, reinforcing concerns among energy traders that commercial shipping remains exposed despite diplomatic efforts to restore traffic through the strait.
The Strait of Hormuz carries about 20 per cent of global oil supplies and has become a major pressure point since the US-Iran conflict began. Iran has imposed restrictions on commercial traffic and previously demanded that ships seek permission and sail close to its coastline, while Tehran has also discussed charging vessels for passage.
The renewed attacks are particularly significant for oil markets because uncertainty over Hormuz has become a direct component of replacement-cost calculations. Traders are having to price not only crude itself but also the possibility of higher freight, insurance and supply costs if vessels continue to face attacks or delays.
The market uncertainty is complicated by conflicting signals over the future of the waterway. Iran has indicated that reopening commercial traffic is tied to the lifting of the US blockade of its ports, while Iran and Oman have held discussions on managing shipping through the strait. President Donald Trump, meanwhile, said he intends to declare the waterway US territory after what he described as the defeat of Iran.
The latest tanker attack also comes as violence spreads beyond the immediate US-Iran confrontation. In Lebanon, Israeli airstrikes in the south killed at least 11 people, according to Lebanese officials, in some of the deadliest attacks since a US-brokered arrangement produced a fragile lull between Israel and Iran-backed Hezbollah.
Israel said its strikes targeted Hezbollah infrastructure and a Radwan Force commander, while Lebanon’s prime minister rejected the characterisation of the sites as military targets. Hezbollah has vowed that the attacks will receive a response, raising fresh concerns about the durability of the ceasefire.
In Yemen, the Houthis also attacked the Red Sea port of Mokha, with local military officials reporting deaths and disruption to port operations. The attacks add another layer of risk to an already strained maritime environment linking the Middle East’s oil-producing regions with international markets.
For downstream markets such as Nigeria, the significance extends beyond the crude benchmark. Prolonged disruption around Hormuz and the wider Red Sea could raise freight and insurance costs for imported petroleum products and affect the replacement value used by marketers, even where domestic refining and local supply cushion some of the immediate impact.