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Attacks sink a container ship in Strait of Hormuz and slow traffic

More than 20 vessels have been struck over the past two weeks, with Tehran claiming control of the waterway and targeting ships it says pass without permission.

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What happened

Iran has claimed control of the Strait of Hormuz and regularly targets ships it says transit without permission, and more than 20 vessels have been hit in the latest wave of attacks over the past fortnight. The latest development is that a container ship sank near the strait after being hit by a projectile, while a dry bulk carrier damaged in an earlier attack was also reported to be sinking.

Why it matters

The attacks have pushed oil prices higher, with Brent rising to $106.03 a barrel, and have raised supply concerns. Shipping sources also report signs that cargo movements through the strait may be slowing.

Timeline

  1. Oct 13, 8:06 AM ET: Greek and Chinese tankers were struck in the Strait of Hormuz, part of a wave of attacks that has hit more than 20 ships over the previous fortnight.
  2. Oct 13, 3:54 PM ET: The UK maritime agency confirmed two ships were hit by missiles in the strait.
  3. Oct 14, 6:54 AM ET: Brent crude rose to $106.03 a barrel amid the attacks on vessels and Houthi strikes on Saudi facilities.
  4. Oct 14, 10:10 AM ET: The Singapore-flagged GFS Pride container ship sank near the strait after being hit by a projectile.
  5. Oct 14, 1:23 PM ET: Strait of Hormuz traffic fell again amid a new wave of Houthi attacks, with Middle East crude, petroleum and LNG exports sharply lower.

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