Fresh attacks on commercial vessels have intensified security concerns in the Gulf region, with multiple ships struck and one reported ablaze. The incidents come amid escalating hostilities involving Iran, disrupting maritime trade through the Strait of Hormuz and triggering sharp movements in global oil markets.
Oil prices climbed more than five percent in early trading as investors reacted to renewed threats to energy supply routes. Market volatility has persisted since late last month following military actions involving the United States and Israel that expanded regional conflict.
Military tensions have now entered their twelfth day, with Iranian forces warning they could target economic infrastructure tied to US and Israeli interests. Attention remains fixed on the Strait of Hormuz, a critical shipping corridor for global energy transport.
Leaders of the Group of Seven (G7) are scheduled to hold emergency talks via video conference to address supply risks and stabilisation measures. Energy ministers from the bloc said they are prepared to act in coordination with the International Energy Agency, including potential releases from strategic petroleum reserves.
Prime Minister Sanae Takaichi said Japan could begin releasing reserve oil as early as Monday, ahead of any collective decision.
Analysts warn that a prolonged shutdown of the Strait could severely disrupt global supply chains. The route handles roughly one-fifth of worldwide oil and gas shipments and a significant share of fertiliser exports, making Asia and Europe particularly vulnerable to extended disruption.
The Pentagon said US forces recently destroyed several vessels allegedly capable of laying naval mines in the area. Despite that operation, additional strikes involving drones and missiles were reported, with at least three ships hit.
US President Donald Trump warned of severe consequences if sea mines were deployed and not promptly cleared. He also indicated that the United States Navy could escort oil tankers through the passage.
Security analysts, including the Soufan Center, cautioned that naval escorts may not fully mitigate risks. Persistent missile and drone threats could drive insurance and transit costs above shipment profit margins, they noted, adding that large stockpiles of naval mines could further complicate clearance operations.
Maritime authorities reported that a cargo vessel north of Oman caught fire after being struck by an unidentified projectile, forcing crew evacuation. Separate incidents affected a bulk carrier and a container ship off the coast of the United Arab Emirates.
Thailand’s navy said the bulk carrier Mayuree Naree was attacked while transiting the strait. Twenty crew members were rescued by Omani forces, while efforts continued to locate three others.
Diplomatic calls for de-escalation continue. President Recep Tayyip Erdogan urged all sides to pursue a ceasefire, warning of wider regional consequences. Iranian leadership has rejected truce proposals, while Israel confirmed a new wave of large-scale strikes targeting sites in Iran and positions linked to Hezbollah in Beirut.
In Iran, authorities issued warnings against internal unrest. Police chief Ahmad-Reza Radan said security forces were prepared to respond firmly to dissent, according to state broadcaster Islamic Republic of Iran Broadcasting (IRIB).
Residents in Tehran described adapting to daily life amid ongoing strikes, citing access to basic supplies despite continued uncertainty.
The conflict began on February 28 following joint military action by the United States and Israel that killed Iran’s long-serving leader, Ayatollah Ali Khamenei. His son, Mojtaba Khamenei, has been named successor, with officials stating he is safe amid earlier injury reports.
Iran’s health ministry said more than 1,200 people have died and over 10,000 civilians have been injured since the start of the strikes. The figures could not be independently verified.
The conflict has also spread through regional proxy fronts. Lebanese authorities reported hundreds of deaths and large-scale displacement following Israeli operations targeting Hezbollah positions. Fresh strikes were recorded in Beirut’s southern districts and central areas.
