Fresh attacks on commercial shipping in key waterways have heightened concerns over global energy supplies as diplomatic efforts to end the US-Iran war show signs of stalling.
The attacks, reported by the United States and Yemen’s Iran-aligned Houthis, occurred in the Gulf of Oman and at the entrance to the Red Sea, two critical maritime routes for global oil and gas shipments.
The renewed tensions pushed oil prices higher on Wednesday. Brent crude rose to $88.80 per barrel, while US West Texas Intermediate (WTI) gained to $83.30 per barrel.
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The latest developments have added to market concerns that prolonged disruption around the Strait of Hormuz and the Bab el-Mandeb Strait could further constrain energy supplies.
At the southern end of the Red Sea, four crew members were killed in a suspected Houthi attack on the Egyptian-owned Tihamah cargo vessel in the Bab el-Mandeb Strait on Tuesday, Yemen’s Transport Ministry said.
Two Yemeni rescuers from an anti-Houthi military group were also killed, according to the country’s Coast Guard.
If confirmed, the deaths would be the first reported fatalities among shipping crews in Houthi attacks since the Iran war began.
The Houthi-run Saba news agency said the group had attacked a Saudi ship carrying military equipment in the Bab el-Mandeb Strait. It did not identify the vessel, while Saudi authorities had not immediately responded.
The US also reported an attack on a commercial vessel in the Gulf of Oman.
The US Central Command said a US Navy MH-60 helicopter fired two Hellfire missiles to disable the steering gear of a Panama-flagged cargo ship after it ignored repeated warnings to stop violating a naval blockade on Iranian ports.
Maritime sources told Reuters the vessel was struck off Pakistan while sailing towards the Gulf of Oman.
The incidents are raising fresh concerns for the oil market because the Strait of Hormuz and Bab el-Mandeb are among the world’s most important maritime chokepoints.
Hormuz, in particular, is critical to global energy security, with disruptions to shipping through the waterway capable of affecting crude oil and refined-product supplies and pushing up freight and insurance costs.
Iran hardens position
The latest attacks came as Iran and the US hardened their positions, reducing optimism that the conflict could end soon.
Mohsen Rezaei, Iran’s top security official, said on Tuesday that the Strait of Hormuz would remain closed unless Washington accepted Tehran’s conditions for ending the war.
These include the release of Iran’s frozen assets and an end to conflicts across the region, including in Lebanon and Gaza.
The position came a day after US President Donald Trump demanded that Iran pay compensation for people killed in wars, attacks and protests over the past 50 years.
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Trump has repeatedly alternated between threatening further military action and suggesting that a deal with Tehran could be imminent.
In an interview released recently, he said the uncertainty could persist, suggesting that Washington could either allow Iran’s economy to deteriorate or strike the country “really, really hard.”
Speaking to reporters after a visit to Ohio on Tuesday, Trump maintained that the US was in a strong position.
“We totally control the Strait of Hormuz,” he said, adding that Iran could face further military action if it took steps against the US.
For oil markets, however, the combination of stalled diplomacy and renewed attacks on shipping is keeping supply concerns elevated.
According to international reports, vessel transit through the Strait of Hormuz has fallen significantly following the latest incidents, adding another layer of uncertainty to an already volatile global oil market.
The US Energy Information Administration has also warned that some Middle Eastern producers may struggle to restore oil output to pre-conflict levels even by the end of 2027, suggesting that the supply effects of the war could persist well beyond any eventual ceasefire.
Feyishola Jaiyesimi is a journalist at BusinessDay Media with over two years reporting experience. She began her journalism career as an agricultural reporter and now covers the energy sector, including oil, gas, electricity, environment, and renewables. She has been selected for professional training by the US Consulate, Lagos. She is a 2025 Dataphyte Biodiversity Reporting Fellow. Feyishola holds a bachelor’s degree in Zoology and Environmental Biology from Ekiti State University.
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