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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 crossing together with a group of three other vessels following the official route from the International Maritime Organization (IMO). The 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 the route 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 the price of West Texas Intermediate (WTI) crude oil to reportedly jump to $72 per barrel, whereas previously it had shown a declining trend to $69 per barrel.