Iran's Revolutionary Guards Navy said two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to IRNA, and state media said both carried about 2 million barrels of crude. There was no independent confirmation of these reports. IRNA said the vessels had switched off their positioning and radar systems, used an unauthorised route, and that one was left immobilised after striking a mine. The incidents come amid heightened tensions, with attacks around the waterway surging over the past two weeks as Iran responds to a US blockade of its ports and tougher sanctions, and a container ship and a dry bulk carrier sank after being hit by projectiles earlier.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on marinelink.com ↗
Keywords
Strait of HormuzIranoil pricesgeopolitics
Open a keyword to see other news on the same topic.
Related tickers and likely impact
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/18/2026 | 4,178.90 |
| Change that session | +0.57% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/18/2026 | 4,178.07 |
| Change that session | +0.60% |
XAU/USD
▲ Likely positiveRelevance: medium
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- Iran plan to open shipping lane still on the table
Iran's Foreign Minister Abbas Araqchi says Tehran's offer to reopen the Strait of Hormuz within seven days remains on the table, though Iran's security chief said talks stalled because Washington did not address all seven conditions. Iran wants the lifting of the US blockade on its ports and of sanctions on its oil exports, plus an end to hostilities on all regional fronts; if accepted, the strait could reopen within six days, with talks resuming the next day. Washington insists on addressing Iran's nuclear program from the outset, and Vice President JD Vance has said Iran must make a 'meaningful' cut to uranium enrichment capacity to end the eight-month war. Meanwhile, Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines, a claim not independently confirmed, and maritime officials reported that a container ship and a dry bulk carrier sank near the strait after being hit by projectiles.
- Iran plan to open shipping lane still on the table
Iranian Foreign Minister Abbas Araqchi says Iran's offer to reopen the Strait of Hormuz within seven days remains on the table, while Tehran reviews Washington's response. Iran's conditions include lifting the US blockade of its ports and US sanctions on its oil exports, plus ending hostilities on all regional fronts; if accepted, the strait could reopen within six days. Washington wants Iran's nuclear program addressed from the outset, and Vice President JD Vance has demanded a “meaningful” cut in Iran's uranium enrichment capacity. Iran's Revolutionary Guards say two oil tankers caught fire after hitting naval mines while crossing the strait, a claim IRNA reported without independent confirmation. The waterway is only 35 to 40 km wide at its narrowest point, and the conflict there has pushed up global energy prices and inflation.
- Iran proposes to US reopening Strait of Hormuz within one week
Iranian Foreign Minister Abbas Araghchi said normal shipping through the Strait of Hormuz could resume within 7 days if Washington accepts the 7-day plan Tehran has conveyed through Qatar. Under the proposal, the US would need to lift its naval blockade, ease restrictions on Iranian oil exports, release part of frozen Iranian assets, and end hostile actions on all fronts, including Israel's operations in Gaza and Lebanon. President Trump had previously called these conditions unacceptable and insisted the US retains full control of the strait. According to the IRGC, two supertankers carrying about 2 million barrels each hit mines and caught fire in the strait on October 17, after switching off their tracking and radar systems to use an unauthorized route. Brent crude settled at $109.86 a barrel on October 16, up 3.7%.
- 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.
- Two tankers hit mines in Strait of Hormuz : Iran navy
Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to the state news agency IRNA. State media said both tankers were carrying about 2 million barrels of crude oil, but there was no independent confirmation. The vessels reportedly switched off their positioning and radar systems and used an unauthorised route, and one was left immobilised after striking a mine. The incidents add to tensions around the strait, a key oil shipping lane only 35 to 40km wide at its narrowest, which has become the central point of conflict between Iran and the United States. Disruptions linked to the US-Israeli war on Iran have boosted global energy prices and inflation, and maritime officials said a container ship and a dry bulk carrier sank near the strait after being hit by projectiles.
- Iran Guards Say Two Tankers Hit Mines In Strait Of Hormuz
Iran's Revolutionary Guards Navy said two oil tankers caught fire after hitting naval mines while crossing the Strait of Hormuz, according to the official IRNA news agency, and state media said both carried about 2 million barrels of crude. There was no independent confirmation of the reports. IRNA said the vessels had switched off their positioning and radar systems and used an unauthorized route, and that a second tanker was left immobilized after striking a mine. The incidents come amid surging attacks around the waterway over the past two weeks, which Iran says is a response to the US blockade of its ports and tougher sanctions.
Related markets
Latest news
- Why Meta's Q3 earnings could be a little hard to interpret
Meta is reporting its third-quarter earnings after the market closes Wednesday, and Yahoo Finance's Brian Sozzi says the report will be hard to interpret. Recent good news on Meta's AI products, including new models and an AI agent, may not appear directly in the results but will likely be discussed on the earnings call. The key uncertainty is how investors will react if Meta raises its capex outlook again: it could be seen as fueling those products, or as overspending on offerings not yet reflected in financials. Sozzi expects the market to give Meta the benefit of the doubt on higher capex, as long as the increase does not shock investors.
- Zerohash rolls out a new tool to move crypto without copying wallet addresses
Zerohash launched AUTH, a service that lets users move crypto, stablecoins and blockchain-based stock tokens between linked exchange accounts or self-custody wallets without copying wallet addresses or choosing a blockchain network. To transfer, users pick an account in an app that offers AUTH, sign in and approve the move, while the service handles routing and settlement and each app sets which assets and transfer types it allows. AUTH supports more than 600 connections, including Coinbase, Robinhood, Gemini, MetaMask and Phantom, with Coinbase, Robinhood and Gemini live and Kraken in beta. The launch comes as Zerohash's application for a national trust bank charter, returned by the Office of the Comptroller of the Currency in July, remains pending after a narrower refiling on Aug. 18.
- 2 charts show why Wall Street is right to worry about tech stocks
Rising cost of capital could affect the financial statements of hyperscalers such as Oracle (ORCL) and Google (GOOG, GOOGL) in 2027, as they need fresh debt to fund AI infrastructure and free cash flow may turn negative. JPMorgan strategist Mislav Matejka forecasts hyperscaler free cash flow will turn negative in 2027, implying credit markets will drive more of the AI build-out. Consensus estimates for 2027 capital expenditures are already rising from levels experts believe are too low. Morgan Stanley sees total 2027 capex among hyperscalers reaching $1.6 trillion, up from $978 billion estimated for this year. Dan Ives of Yorkville expects capex to reach the trillions and over 1,000 datacenters to be built in the next few years.
- Update on loan rate cuts as of the evening of Oct 19: MB, VietinBank, SHB, OCB join in
SHB, MB, VietinBank and OCB have announced loan rate cuts, following Agribank, Vietcombank, BIDV, ACB, LPBank and VietBank, with typical reductions of 1.5-2% per year. MB is cutting 1.5% per year for five priority sectors, to rates from 7.9% per year, and up to 2% in some cases; VietinBank is cutting up to 2% per year, while OCB offers up to 2.25% per year on some medium- and long-term loans for OCB Priority Banking members. SHB is cutting 1.5-2% per year for businesses and households and offers rates from 5.5% per year for lecturers and students at some universities. Vietcombank commits to cutting at least 2% through year-end, BIDV applies rates from 6% per year on short-term VND loans from 15/10/2026, and VietBank runs a VND 3,000 billion package. Specific benefits depend on borrower type, loan purpose, term and program conditions, following directives from the Government and the State Bank of Vietnam.
- Nvidia wins CPU business from Modal, previously exclusive to AMD and Intel
Modal, a San Francisco-based AI cloud startup that previously ran its AI agent workloads only on Intel and AMD processors, will begin using Nvidia's new Vera CPU. Early tests showed the Nvidia chip doubled work capacity for AI agents, and Modal plans to run it alongside Intel and AMD chips, assigning each task to the most efficient hardware, though integration requires substantial software changes. Modal recently raised $750 million in a round led by Accel at a $15.75 billion valuation and expects $1 billion in sales over the next year, with usage tripled and revenue up more than 15 times year-over-year. Nvidia projects at least $20 billion in Vera chip revenue this fiscal year in a market it estimates at about $200 billion, and says OpenAI, Anthropic, Oracle and Perplexity also plan to use the chips.
- America's EV Plans Have Died
Billions of dollars went into EV factories, dealerships and marketing after President Biden set a goal for 50% of new US car sales to be zero-emission by 2030, but EV sales have since fallen sharply. US EV sales dropped 30.7% in the first nine months of 2026, after the $7,500 tax credit expired on September 30 last year, and gas prices near $4.50 per gallon have done little to lift them. According to Kelley Blue Book, the average transaction price of a new EV was $54,754 in August, above the $50,089 average for all new cars. Ford's EV sales fell 80.2% to 6,047 in the third quarter, and it has no new EV planned until its Fathom launches next year, while Tesla holds over 50% of the market and no other major automaker has even 10%. The article says EVs could recover if gas prices reach $5 and stay there for months, but that is uncertain.
Get the briefing on Telegram or Zalo
Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.