Key facts
- Iran's Strait of Hormuz Administration warned ships using unauthorized routes through the strait would face serious restrictions.
- US President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz and end the Iran war.
- A cargo ship reported being struck by an unidentified projectile near Oman while transiting the Strait of Hormuz.
- The incident pushed global oil prices about 2 percent higher.
Iran's Strait of Hormuz Administration announced on Saturday that ships using unauthorized routes through the strategic waterway would face serious restrictions, according to Al Jazeera Arabic. This statement follows a report that a cargo ship was struck by an unidentified projectile near Oman while attempting to transit the Strait of Hormuz, raising security concerns. The incident prompted global oil prices to rise by approximately 2 percent as traders assessed the risks to shipping through this vital energy corridor. The Persian Gulf Strait Authority (PGSA) further warned that vessels navigating unauthorized routes would do so at their own risk, with owners and investors bearing responsibility for any consequences. The developments come as US President Donald Trump stated he had rejected an Iranian proposal aimed at reopening the Strait of Hormuz and ending the Iran war.