Oil Supertankers Reportedly Struck by Projectiles in Hormuz

Summary

Abeer Abu Omar reports that two oil supertankers were struck by projectiles in the Strait of Hormuz, driving Brent and NY crude about 2% higher. She says energy markets are reacting more to physical tanker attacks in the waterway than to US-Iran diplomatic headlines. Iran has signaled conditional willingness to return to the MOU, while US military leadership turmoil adds uncertainty. The main market implication is elevated near-term oil price risk tied to the Strait of Hormuz.

• Two oil supertankers were struck by unknown projectiles near the Strait of Hormuz.
• Brent crude and NY crude rose roughly 2% after the attacks.
• Energy markets are reacting to physical waterway attacks rather than US-Iran diplomatic headlines.
• Iran says it will return to the MOU if the US returns to diplomacy and drops its pressure campaign.
• US Army Secretary Dan Driscoll resigned after disagreements with Pete Hegseth.
• Trump signaled that military escalation could happen again.
• The risk to vessels in the Strait of Hormuz remains elevated.