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Iran Attacks Singapore-Flagged Cargo Ship in Strait of Hormuz
The United States military reported that Iran's Islamic Revolutionary Guard Corps (IRGC) attacked a Singapore-flagged cargo ship, Ever Lovely, in the Strait of Hormuz early Friday (June 26). According to a report by The Wall Street Journal, the incident occurred near the coast of Oman when the ship was traveling as part of a group of three other vessels following the official route of the International Maritime Organization (IMO). The sailors in the flotilla stated that the attack occurred suddenly without any warning or prior radio contact from the Iranian navy. Nevertheless, no casualties were reported from the incident.
​This attack was launched after the Iranian Navy issued a stern warning for ships not to use the route through the Strait of Hormuz without obtaining official permission from Iran. Due to this sudden geopolitical escalation, the global energy market reacted aggressively, causing the price of West Texas Intermediate (WTI) crude oil to immediately jump to $72 per barrel, whereas it had previously shown a declining trend to $69 per barrel.