Rising attacks in Strait of Hormuz

Attacks targeting commercial vessels within and around the Strait of Hormuz have significantly increased since the beginning of October. The UK Maritime Trade Operations (UKMTO), a liaison organization of the British Royal Navy, reported 23 attacks during the first two weeks of October, more than any month since the start of the war against Iran, launched on February 28.

Frequent targeting of ships

Nearly two ships per day were targeted in October. Between Tuesday, October 13, and Wednesday, October 14, two ships belonging to Emirati shipowners, likely attacked by Iran, sank after being struck inside or near the Strait of Hormuz.

Sinking of cargo ship

A cargo ship sank near the Strait of Hormuz after reportedly being struck by a projectile, leaving containers floating at sea. All 21 crew members escaped safely.

Another ship confirmed sunk

A second ship was also confirmed sunk amid intensifying attacks on commercial vessels. The container ship GFS Pride was struck by an "unknown projectile" on Tuesday, while the oil tanker Cape Dao was hit three weeks earlier, on September 23.

First sinkings since March

These are the first ships to sink in the Strait of Hormuz since the beginning of March, when the Maltese-flagged container ship Safeen Prestige was struck near the coast of Oman.

Iran intensifies attacks

While the last U.S. military operations in Iran, according to the Institute for the Study of War, date back to the beginning of September, Iran has multiplied attacks in recent weeks, forcing super-tankers to turn back and return to the Persian Gulf.

Iran's stated motives

Iranian officials stated early in the week that the country had begun, since the start of the month, to use different offensive tactics against ships it considers to be violating its restrictions. These same officials claim to want to counter the efforts made by the Trump administration to lower global oil prices—and thus at the pump in the United States—before the mid-term elections.

Impact on gasoline prices

The energy shock caused by the war with Iran continues to have an impact on prices, and notably on those of gasoline, despite the administration's attempts to lower them. In the United States, the index measuring gasoline prices jumped 9.1% in September, the largest increase since March (+21.2%).

U.S.-Russia diesel deal

On Friday, September 9, the U.S. president announced having concluded an agreement with the Kremlin to put "immediately" 300,000 tons of diesel "on the American and global market."

IEA releases oil reserves

Today, Thursday, October 15, the International Energy Agency (IEA) announced that its members had agreed to "carry out the last releases of about 100 million barrels," including more than 20 million barrels of diesel. Earlier in the day, American representatives had pressured other IEA members to release at least 100 million additional barrels of emergency reserves.

Progress on oil releases

Since the beginning of the war, 330 million barrels out of the 400 million committed in March—so the largest release by the Agency since its creation in 1974—have been put on the markets.