News | Commodity | Persian Gulf
IRGC says two tankers disabled in Strait of Hormuz as Brent tops $90
21 July 2026 | 3 months ago
Iran's Islamic Revolutionary Guard Corps (IRGC) said on Monday, July 20, 2026, that it had disabled two oil tankers that tried to cross the Strait of Hormuz without permission, using what it called an unsafe route. According to the IRGC, both vessels were left immobilized after explosions. The British military separately reported seeing a ship on fire near the Omani coast in the strait.
The incident came amid the continuing nightly US strikes on Iran, with traffic through Hormuz already at a near standstill. Oil prices climbed further on the news, with Brent crude topping $90 a barrel for the first time since June 11. Roughly a fifth of the world's oil passes through the Strait of Hormuz, so any disruption feeds directly into Iran's foreign-currency earnings and domestic markets.
More from this market
Brent slips toward $89 on Tuesday as mediation hopes ease war pressure on oil
CNBC | 3 months agoAsian LNG prices jump amid Hormuz crisis; JKM benchmark hits about $21
Trading Economics | 3 months agoTanker and ship traffic through the Strait of Hormuz falls to its lowest in months
CNN | 3 months agoGlobal wheat prices hit a two-year high as fresh Black Sea attacks threaten grain exports
Reuters | 3 months ago
