Strait of Hormuz tanker fire deepens Gulf shipping fears

A second supertanker has caught fire in the Strait of Hormuz, according to Iran’s Revolutionary Guard Navy. The force says the vessel struck a naval mine. That claim has not been independently verified.

The incident came amid a run of attacks on Gulf shipping over the weekend. The UK Maritime Trade Operations centre reported that a small boat carrying seven people fired on an LNG tanker. The tanker was about 140 nautical miles southeast of Al Mukalla, Yemen. A separate tanker attack was reported off Saudi Arabia.

Saudi Arabia on alert

On land, the Saudi-led coalition said it destroyed two Houthi ballistic missiles aimed at Khamis Mushait. Civil Defense issued danger alerts in Riyadh, Abha and Khamis Mushait. It later said the threat had passed. The coalition also reported intercepting four drones.

The Houthis made their own claims. They said they downed a Saudi Apache helicopter near Najran. Those claims remain unconfirmed. Market reports also mention a Houthi attack on Yanbu.

What the Strait of Hormuz attacks mean for oil

Oil traders reacted quickly. Brent crude rose nearly 4% on Friday and touched $110 a barrel, its highest since May. On Monday it eased 1.7% to about $108, according to XTB’s morning wrap.

US Energy Secretary Chris Wright said crude flows from the Persian Gulf are running at about 80% of pre-conflict levels. Refined fuel prices are rising faster than crude.

Washington is also shifting its Russia policy. President Donald Trump announced a deal on Russian diesel exports and a partial suspension of tariffs and sanctions on Russian energy. Congressional critics have introduced a bill to block those purchases. Moscow says the first tanker carrying Russian oil to world markets has left port.

Diplomacy under pressure

The diplomatic track is narrow. Defense Secretary Pete Hegseth told cadets that Iran must give up its nuclear ambitions in negotiations or face military action. Lebanon’s president says US-backed talks with Israel will open in Tampa, Florida, on 20 October.

The week ahead will show whether shipping can keep moving. Earlier attacks on Gulf infrastructure have already hit Bangladeshi workers, as our earlier report on the Riyadh airport attack showed. For the latest figures, see the Anadolu Agency morning briefing.

Fact basis: Anadolu Agency morning briefing (18 Oct 2026); XTB morning wrap (19 Oct 2026); CNN Business via KION (16 Oct 2026). Claims by the IRGC Navy and the Houthis are unverified.