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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, the Ever Lovely, in the Strait of Hormuz early Friday (June 26). According to a report by The Wall Street Journal, the incident occurred off the coast of Oman as the vessel was transiting along with a group of three other ships following the official route of the International Maritime Organization (IMO). Sailors in the flotilla stated that the attack came 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 strong 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 West Texas Intermediate (WTI) crude oil prices to immediately surge to the $72 per barrel level, whereas previously they had shown a declining trend, reaching the $69 per barrel level.