Key facts
- Tanker caught fire in Strait of Hormuz after explosive devices attached.
- Crew reported safe, no environmental impact.
- Fire extinguished, vessel continued to next port.
- Iran's IRGC disputed US claims about mine clearing.
- Brent crude prices reached $117 per barrel.
Brent crude oil prices rose to $117 per barrel on Friday amid escalating tensions in the Middle East after a tanker caught fire in the Strait of Hormuz. The UK Maritime Trade Operations (UKMTO) reported that explosive devices were attached to the vessel's hull, causing a fire that was subsequently extinguished. The crew was confirmed safe with no environmental impact, and the tanker continued its voyage. Separately, Iran's Islamic Revolutionary Guard Corps (IRGC) claimed four tankers had struck mines in the strait, disputing U.S. Central Command's assertions about mine clearing. The renewed tensions, coupled with ongoing Houthi attacks on Saudi infrastructure, contributed to the oil price surge.