A tycoon’s shipping empire is sending oil tankers into the Strait of Hormuz, despite Iran’s warning that any vessels using the vital trade lane will be sunk.

A commercial oil tanker was set ablaze in the Strait of Hormuz after it was struck by an Iranian suicide drone, the country’s Islamic Revolutionary Guard Corps said Saturday, with a US Navy mission to safeguard ships through the region possibly still weeks away.

A Greek‑operated oil tanker has sailed through the Strait of Hormuz, ship tracking data showed on Monday, in a sign that ‌some commercial vessels are still attempting to navigate the vital passage despite the U.

Satellite imagery captured Monday shows Iran's biggest naval vessel on fire at a military port. The IRINS Makran is a large tanker that was converted into a forward base ship. US officials said the Iranian navy was a priority target at the start of the conflict.

Oil prices have surged dramatically in early 2026, driven by the escalating Iran conflict and fears of Strait of Hormuz disruption. Crude oil surged over the weekend before settling near $84 per barrel at 5:00 p.

By Jonathan Saul, Anna Hirtenstein and Yousef Saba March 4 (Reuters) - The U.S.–Iran war widened on Wednesday after a U.S. strike hit an Iranian warship off Sri Lanka, deepening a crisis that has paralysed shipping through the Strait of Hormuz for a fifth day and choked off vital Middle East oil and gas flows.

We’re not too long, I think, before you will see more regular resumption of ship traffic through the Strait of Hormuz,” Chris Wright said on CNN on Sunday.

A backup of oil tankers in the Persian Gulf is disrupting supplies, and will only get worse the longer the Strait of Hormuz is closed.

A tanker has become the first shipping casualty following US and Israeli strikes on Iran that killed Supreme Leader Ayatollah Ali Khamenei. Sources say four crew members from the 11,000-dwt Skylight (built 2006) were injured in the incident.

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NEW YORK, Sept. 30, 2025 (GLOBE NEWSWIRE) -- Senior executives from leading Container, Dry Bulk, Gas (LNG/LPG) & Tankers shipping companies will present at the 17th Annual Capital Link New York Maritime Forum (NYMF) on Tuesday, October 14, 2025 , at the ...