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IRGC declares Strait of Hormuz 'closed' as Brent crude hits $110
Iran's Revolutionary Guard Navy said on Oct 17 a supertanker carrying over 2 million barrels struck a naval mine, declaring the Strait of Hormuz 'closed'; Brent touched $110 a barrel on Friday, first time since May. The US disputes the claim, saying the strait remains under US and partner control.
Why it matters
The Strait of Hormuz carries roughly one-fifth of the world's oil consumption, making it the single most important geopolitical switch for crude prices. On Saturday, October 17, Iran's Islamic Revolutionary Guard Corps (IRGC) Navy said in a statement carried by its official outlet Sepah News that a supertanker carrying more than two million barrels of crude oil struck a naval mine during an 'unauthorised' crossing with its GPS and radar systems switched off, and declared: 'The Strait of Hormuz is closed,' warning that defying Iranian regulations means 'burning in the fire of trust in the terrorist US army.' Brent crude touched $110 a barrel on Friday, the first time since May.
Two irreconcilable claims
IRGC Navy Commander Ali Azmaei told Iranian state TV that Iranian forces control the Persian Gulf and the strait 'round the clock,' warning that vessels switching off navigation systems could be treated as hostile. The tanker's identity has not been independently verified. Washington tells the opposite story: US Central Command chief Brad Cooper said late Friday that 400 ships and 100 million barrels of oil moved through the strait over the past week, and that 'the Strait of Hormuz is controlled by the United States and our regional partners, not Iran.' The UK Maritime Trade Operations office reported two vessels struck by unidentified projectiles in the strait this week.
Markets and regional spillover
Beyond the strait, Yemen's Houthis escalated attacks on Saudi energy infrastructure this week: Saudi authorities said they intercepted missiles and drones, with debris from an intercepted cruise missile injuring four people and damaging homes in Riyadh, and a Saudi Aramco administrative building in Dhahran hit, causing a small fire. Supply risk is the main driver of this price move. We report verified events and figures only, and do not forecast price direction.
Sources
IRGC Navy statement via Sepah News (cited across outlets); US CENTCOM statement; UKMTO shipping reports; cross-checked against Al Jazeera, The Hindu, IANS and others. Iran's mine-strike and 'closure' claims are unilateral and not independently verified.
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