An Iranian cargo vessel was struck near the Strait of Hormuz on Sunday, and Iran-backed Houthi rebels claimed new attacks on Saudi Arabia, escalating concerns about the security of regional shipping and oil supplies.
Oil traders were expecting prices to rise again when markets reopen on Monday, following the weekend violence that threatened oil supplies from the world’s biggest exporter, Saudi Arabia.
The Islamic Republic News Agency, Iran’s official state news agency, said an Iranian commercial container ship was hit by an unidentified projectile early Sunday. The attack happened near Hengam Island in the Strait of Hormuz. One crew member was killed, and four others were injured, the news agency said.
The United Kingdom Maritime Trade Operations (UKMTO) also reported that a vessel was struck by an unknown projectile, and a fire broke out on the ship. The UKMTO did not identify the ship or where it was registered.
Shipping through the Strait of Hormuz has vessel crossings dipping into the single digits. That’s down from 130 a day before the war between the United States and Iran began.
Saudi Arabia shut down its East–West pipeline after an aerial attack.
Jasem Albudaiwi, secretary-general of the Gulf Cooperation Council, condemned the targeting of the pipeline in the Riyadh and Madinah regions by several drones launched from Iraq.
Saudi Arabia has enough oil stored to maintain shipments for only five to seven days if the pipeline remains closed, according to Saudi oil buyers and traders.
The pipeline provides up to 4 percent of the global oil supply. Saudi Arabia moves about 4 million barrels per day through the pipeline.
The pipeline is also significant because it runs through the desert across the Arabian Peninsula and is not impaired by disruptions in the Strait of Hormuz.
The Iranian-backed Houthis announced on X that they launched an attack Saturday night. They claimed to have launched ballistic missiles and drones against a military base in Saudi Arabia’s Sharurah region.
On Sept. 11, the Houthis captured the Perim Island in the Bab al-Mandeb Strait, which is considered an important waterway because it connects the Red Sea and the Gulf of Aden.
About 12 percent of the world’s goods pass through the Bab al-Mandeb Strait, and Saudi Arabia uses the strait to export oil. But traffic in the strait has been hampered significantly, dropping 60 percent since the Houthis began attacking ships in the strait in 2023.
The Houthis also took the city of Mohka, in Yemen, last week. Mokha, which sits on the Red Sea, is about 50 miles from the Bab al-Mandeb Strait.
Reuters contributed to this report.
