Three More Ships Attacked in Persian Gulf as Iran Warns Oil Could Hit $200
Story: written by springnewsng March 12,2026
Tensions in the Persian Gulf escalated overnight as three additional foreign vessels were struck, following a wave of attacks earlier this week that have disrupted shipping through the strategically critical Strait of Hormuz.
The latest incidents included a container ship hit by an unknown projectile about 35 nautical miles north of Jebel Ali, near Dubai, according to the United Kingdom Maritime Trade Operations (UKMTO). The strike caused a minor fire on board, but all crew members were reported safe.
Earlier, two foreign oil tankers were targeted near Umm Qasr port in Iraq, close to Basra. The attacks reportedly killed at least one person, while 38 crew members were rescued. Iraqi authorities have not yet commented officially.
Shipping traffic through the Strait of Hormuz has nearly halted since U.S. and Israeli airstrikes on Iran on February 28, with Iran retaliating against vessels attempting to pass through the vital waterway. The strait is a key global oil corridor, carrying roughly 20% of the world’s oil and gas supply.
Iran’s military spokesperson Ebrahim Zolfaqari warned that the attacks could drive oil prices to $200 per barrel, blaming destabilization in the region for the potential surge.
Crude prices reacted sharply on Thursday, with Brent crude futures for May delivery rising 5.7% to $97.16 per barrel, while U.S. West Texas Intermediate (WTI) futures for April delivery climbed 5.3% to $91.88. Traders remain cautious despite the International Energy Agency (IEA) announcing a plan to release a record 400 million barrels of oil reserves to stabilise the market. The IEA has not specified a timeline for the release, stating that the distribution would follow the circumstances of its 32 member countries.
Analysts warn that continued attacks on vessels could prolong disruptions in global energy markets, potentially creating severe economic ripple effects.
The latest attacks highlight growing geopolitical risks in the Gulf region, where strategic chokepoints, military confrontations, and retaliatory strikes are driving oil price volatility.
