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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 from The Wall Street Journal, the incident occurred near the coast of Oman as the ship was traveling along with a group of three other vessels following an official route from the International Maritime Organization (IMO). Sailors in the flotilla stated that the attack happened 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 routes through the Strait of Hormuz without obtaining official permission from Iran. As a result of this sudden geopolitical escalation, global energy markets reacted aggressively, causing West Texas Intermediate (WTI) crude oil prices to reportedly surge to $72 per barrel, whereas previously they had shown a declining trend reaching $69 per barrel.