{"id":73801,"date":"2026-10-29T05:09:34","date_gmt":"2026-10-29T09:09:34","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/irgc-navy-three-tankers-ablaze-after-striking-mines-in-strait-of-hormuz\/73801\/"},"modified":"2026-10-29T05:09:34","modified_gmt":"2026-10-29T09:09:34","slug":"irgc-navy-three-tankers-ablaze-after-striking-mines-in-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/irgc-navy-three-tankers-ablaze-after-striking-mines-in-strait-of-hormuz\/73801\/","title":{"rendered":"IRGC Navy: Three Tankers Ablaze After Striking Mines in Strait of Hormuz"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Three oil tankers caught fire<\/strong> and were abandoned after striking naval mines in the southern <strong>Strait of Hormuz<\/strong> over the last 24 hours.<\/li>\n<li><strong>Brent crude<\/strong> and <strong>WTI<\/strong> futures remain under intense upward pressure, with benchmarks hovering near five-month highs as maritime risks in the world&#39;s most vital oil chokepoint escalate.<\/li>\n<li>The <strong>Islamic Revolutionary Guard Corps (IRGC)<\/strong> claims the vessels were using &quot;unauthorized routes&quot; and had deactivated their radar and navigation systems.<\/li>\n<li><strong>U.S. Central Command (CENTCOM)<\/strong> has previously disputed Iranian &quot;mine&quot; narratives, often attributing such damage to direct missile or drone strikes.<\/li>\n<\/ul>\n<p>The <strong>Islamic Revolutionary Guard Corps (IRGC)<\/strong> Navy announced on Thursday that <strong>three oil tankers<\/strong> exploded and caught fire after hitting sea mines in the <strong>Strait of Hormuz<\/strong>. The incidents reportedly occurred over the past 24 hours as the vessels attempted to navigate what Tehran describes as &quot;unauthorized routes&quot; along the southern coast of the waterway.<\/p>\n<p>According to a statement shared by Iranian state media, the tankers had switched off their <strong>Automatic Identification Systems (AIS)<\/strong> and ignored multiple warnings from the <strong>IRGC Navy<\/strong>. One of the vessels was reportedly carrying more than <strong>2 million barrels of <a href=\"https:\/\/stockmarketwatch.com\/energy\/crude-oil\" data-internallinksmanager029f6b8e52c=\"12\" title=\"Crude oil\">crude oil<\/a><\/strong> at the time of the explosion. The <strong>United Kingdom Maritime Trade Operations (UKMTO)<\/strong> confirmed receiving a report of a ship on fire approximately 17 kilometers north of <strong>Khasab, Oman<\/strong>, though it did not specify the cause.<\/p>\n<p>Energy markets reacted sharply to the news, with <strong>Brent crude<\/strong> trading near <strong>$112 per barrel<\/strong>, a level not seen since mid-May. <em>Analysts suggest that the frequent targeting of tankers is reintroducing a significant geopolitical risk premium into oil prices.<\/em> <strong>West Texas Intermediate (WTI)<\/strong> futures have also seen a monthly surge of nearly <strong>20%<\/strong> as the conflict continues to disrupt global supply chains.<\/p>\n<p>The maritime security environment in the region has deteriorated significantly, with over <strong>120 maritime incidents<\/strong> recorded since the start of the war in February 2026. Shipping companies are facing soaring insurance premiums, which have reportedly jumped from <strong>0.25%<\/strong> to as high as <strong>10%<\/strong> of hull value for transits through the strait. Many vessels now opt for U.S.-led naval escorts or riskier &quot;dark&quot; transits with disabled tracking systems to avoid detection.<\/p>\n<p>While the <strong>IRGC<\/strong> maintains that the damage was caused by naval mines, <strong>U.S. Central Command (CENTCOM)<\/strong> has consistently rejected these claims in the past. <em>U.S. officials often argue that Iran uses missiles and drones to target engine rooms specifically to disable vessels.<\/em> This latest escalation follows a series of similar reports throughout October, marking one of the most volatile months for commercial shipping in the history of the <strong>Strait of Hormuz<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Three oil tankers caught fire and were abandoned after striking naval mines in the southern Strait of Hormuz 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