Middle East Crisis - Oil Market

At least three new ships attacked in the Strait of Hormuz

At least three merchant ships were hit by unknown projectiles in the Strait of Hormuz on Wednesday, security and risk analysis firms said according to Reuters.

The Thai-flagged bulk carrier Mayure Naree was hit by two projectiles, causing a fire and damage to the engine room.

“Three crew members are missing and are believed to be trapped in the engine room,” writes shipping company Precious Shipping.

Earlier in the day, the Japanese-flagged container ship ONE Majesty and the Marshall Islands-flagged Star Gwyneth were hit. The damage was reported to be minor and the crews escaped unharmed.

The Iranian Revolutionary Guard Corps claimed responsibility for the attack on the Mayuree Naree in a statement, according to ABC News. They also reported hitting a fourth ship, the Express Room, but this has not been confirmed.

“Every ship that wants to pass must have Iran’s permission,” writes Alireza Tangsiri, commander of the Revolutionary Guard, in a statement.

Stena CEO: “The risk of attacks on ships has increased”

The risk of ships being attacked in and around the Strait of Hormuz has increased in the past 24 hours. Erik Hånell, CEO of the Swedish shipping giant Stena, tells SVT Nyheter.

– Both through the rhetoric we have seen, but also that ships have been shot at.

According to Hånell, the “activity” on Wednesday morning was the highest since the war began last weekend.

Stena has previously asked for a military escort to get ships through the strait. Hånell says there is nothing to indicate that this will become a reality in the near future.

Disruptions in the Strait of Hormuz — the point

• The Strait of Hormuz, through which a fifth of the world’s oil passes, has been effectively closed following attacks and threats from Iran in early March 2026.
• Oil prices surged to over $100 a barrel, the biggest daily price increase in almost 40 years, raising concerns about a global energy crisis and inflation.
• Several major oil producers in the Middle East, such as Saudi Arabia, Kuwait and the United Arab Emirates, were forced to cut production as inventories filled and exports were halted.
• The International Energy Agency (IEA) and the G7 countries prepared record releases of oil reserves to curb the price surge, while Japan and Germany opened their national reserves.I
• Several ships have been attacked in the Strait of Hormuz, further exacerbating the disruptions to shipping and increasing uncertainty in the energy market.