Iran's Islamic Revolutionary Guard Corps (IRGC) Navy claimed on Saturday that two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to IRNA. State media said both carried about 2 million barrels of crude, but there was no independent confirmation. IRNA said the vessels had turned off their positioning and radar systems and tried to use an unauthorized route, and that one was left immobilized after striking a mine. Attacks around the waterway have surged over the past two weeks, as Iran says it is stepping up strikes in response to the US blockade of its ports and tougher sanctions imposed last month. Disruptions to shipping caused by the US-Israeli war with Iran have already pushed up global energy prices and inflation.
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Strait of HormuzIranoil pricesgeopolitics
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Related tickers and likely impact
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/16/2026 | 81,615.64 |
| Change that session | -0.77% |
DXY
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 101.78 |
| Change that session | -0.20% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
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- LIVE : Two oil tankers reportedly hit mines in Strait of Hormuz , Iran says
Iran's Revolutionary Guard Corps said two oil tankers carrying a combined 4 million barrels of crude caught fire after hitting naval mines in the Strait of Hormuz, according to IRNA; the vessel names and cargo origin were not immediately available. The IRGC alleged both ships had switched off their positioning and radar systems and used an unauthorized route, with one reportedly crossing with US support, though these claims have not been independently verified. Tehran now requires vessels to obtain Iranian authorisation before transiting the strait, while the US has imposed a naval counter-blockade on Iranian oil exports. Kpler data showed oil transits fell from about 20.8 million barrels on October 8 to 2.9 million barrels on October 11. Separately, a tugboat near Khor Fakkan in the UAE was struck by two unidentified projectiles, sustaining damage and one minor injury, but continued its journey.
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Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to IRNA, and state media said each carried about 2 million barrels of crude. IRNA said the vessels had switched off their positioning and radar and used an unauthorised route, and that one was left immobilised; no independent confirmation was available. Maritime officials said on Wednesday that a container ship and a dry bulk carrier sank near the strait in separate incidents after being hit by projectiles. Attacks around the waterway have surged over the past two weeks, with Iran saying it is stepping up strikes in response to the US blockade of its ports and sanctions imposed last month. The strait, only 35 to 40 km wide at its narrowest point, is the centre of the Iran-US conflict, and limited access has pushed up fuel prices worldwide.
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