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.
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XAU/USD
▲ Likely positiveRelevance: high
| Market | Gold |
|---|---|
| Close on 10/16/2026 | 4,165.63 |
| Change that session | -0.13% |
PAXG/USDT
▲ Likely positivePAX Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $1.8B |
| Close on 10/16/2026 | 4,162.70 |
| Change that session | +0.11% |
XAUT/USDT
▲ Likely positiveTether Gold
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Real-world assets |
| Market cap | $3.4B |
| Close on 10/16/2026 | 4,159.65 |
| Change that session | +0.15% |
DXY
▲ Likely positiveRelevance: medium
| Market | Currencies |
|---|---|
| Close on 10/16/2026 | 101.78 |
| Change that session | -0.20% |
VNINDEX
▼ Likely negativeRelevance: medium
| Market | Vietnam stocks |
|---|---|
| Close on 10/16/2026 | 1,705.91 |
| Change that session | +0.45% |
PVD
▲ Likely positivePetroVietNam
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Oil & Gas |
| Industry | Oil Equipment & Services |
| Market cap | 16,375 bn VND |
| P/E | 14.7 |
| P/B | 0.95 |
| Close on 10/16/2026 | 17.65 |
| Change that session | -0.28% |
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Related news
- Iran plan to open shipping lane still on the table
Iran's Foreign Minister Abbas Araqchi says Tehran's proposal to reopen the Strait of Hormuz within 7 days remains on the table, and the strait could reopen within 6 days if Washington accepts Iran's conditions, including lifting the US blockade of its ports, lifting sanctions on oil exports and ending hostilities on all regional fronts. Talks have stalled because Washington has not addressed all 7 conditions, while the US insists on addressing Iran's nuclear program from the outset. Iran's Revolutionary Guards navy says 2 oil tankers caught fire after hitting naval mines in the strait, a claim that has not been independently confirmed. Maritime officials also said a container ship and a dry bulk carrier sank after being hit by projectiles in separate incidents. The strait is only 35 to 40km wide at its narrowest point, and shipping disruptions from the 8-month war have pushed up global energy prices and inflation.
- Iran plan to open shipping lane still on the table
Iran's Foreign Minister Abbas Araqchi says Tehran's proposal to reopen the Strait of Hormuz within 7 days, made in mid-September after an interim ceasefire collapsed, is still on the table. If Washington accepts Iran's conditions, including lifting the US blockade of its ports and sanctions on oil exports and ending hostilities on all regional fronts, the strait could reopen within 6 days, with talks resuming the next day. The main dispute is Washington's demand that Iran's nuclear program be addressed from the outset, with Vice President JD Vance calling for a “meaningful” cut to Iran's uranium enrichment capacity. Meanwhile, Iran's Revolutionary Guards navy says two oil tankers caught fire after hitting naval mines in the strait, a claim IRNA reported without independent confirmation, as attacks around the waterway have surged over the past two weeks.
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According to data from the Tổ chức Hàng hải Quốc tế obtained by TASS, 22 vessels reported being attacked in the Strait of Hormuz from October 1 to 13. The estimated count surpassed the total for all of March 2026, the previous record. The attacks left 15 sailors injured, 2 missing, and 1 ship sunk. October 11 saw the most incidents, with 6 vessels reporting damage, while on October 4 and 13, three vessels each reported damage. The backdrop: the US and Israel launched a war against Iran on February 28, 2026. In June 2026, the two sides signed a memorandum for an immediate ceasefire, but on the night of July 8, the Pentagon resumed large-scale strikes on Iran, accusing it of violating agreements related to the Strait of Hormuz.
- Iran plan to open shipping lane still on the table
Foreign Minister Abbas Araqchi says Iran's seven-day proposal to reopen the Strait of Hormuz is still on the table, while Iran's security chief said talks had stalled over Washington's failure to address all seven conditions. Tehran's conditions include lifting the US blockade of its ports and sanctions on its oil exports, and ending hostilities on all regional fronts; if accepted, the strait could reopen within six days. Washington insists on addressing Iran's nuclear program from the outset, with Vice President JD Vance demanding a "meaningful" cut in uranium enrichment. Iran's Revolutionary Guards say two oil tankers caught fire after hitting naval mines, a claim IRNA reported without independent confirmation, and a container ship and a dry bulk carrier sank after being hit by projectiles. Attacks around the strait have surged over the past two weeks, adding to disruptions that have boosted global energy prices and inflation.
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Senior Iranian security official Mohsen Rezaei warned that Tehran has prepared a new response plan, “far more devastating” than the 12-day and 40-day wars, for any renewed U.S.-Israeli attack. President Trump told Newsmax he does not intend to use nuclear weapons against Iran or deploy ground troops. Several commercial vessels around the Arabian Peninsula were attacked, including a tug hit by two unknown projectiles near the UAE on Sunday and a tanker struck by an RPG on Friday. Oil prices surged, with Brent settling at $109.86 per barrel (up 3.7%) and WTI rising 3.5% to $101.41. Saudi Arabia intercepted several missiles, including one aimed at the Yanbu oil export terminal, and Aramco's administrative building in Dhahran was hit earlier this week.
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