Iran’s IRGC Claims Seven Ships Were Hit as Oil Futures Rise

Iran’s Islamic Revolutionary Guard Corps (IRGC) Navy claimed seven vessels were damaged or stopped in the Persian Gulf region overnight Wednesday, as crude futures rose amid broader regional supply concerns.

The force said four oil-transfer vessels caught fire in the north-central Persian Gulf. It said three others struck mines west of the Strait of Hormuz and were immobilized. The statement did not identify the ships or report casualties.

At 2:26 a.m. ET (06:26 UTC) Thursday, Oct. 22, Brent crude futures stood at $111.64 a barrel, up $2.82, or 2.59%. U.S. West Texas Intermediate crude rose $2.24, or 2.31%, to $99.39.

The gains came amid broader worries about Middle East supply disruptions after Houthi attacks in Saudi Arabia, including energy infrastructure. Gulf oil continued moving at night along a U.S.-protected route near Oman. Location systems and mobile phones were switched off before cargo was transferred to waiting vessels in the Gulf of Oman.