Iran mulling limited number of tankers to pass in Hormuz: CNN

Iran’s strategic control over the Strait of Hormuz has intensified global economic concerns as the country reportedly mines the critical waterway, which handles 20% of the world’s oil supply. Satellite and intelligence reports indicate Iran has deployed a limited number of naval mines, complicating navigation for tankers and raising fears of a prolonged disruption. However, the UKMTO noted no confirmed evidence of mine detonations, while U.S. Central Command claimed to have destroyed 16 Iranian minelayers near the strait.

The U.S. has emphasized the need for Iran to remove any mines, with President Trump warning of "consequences at a level never before seen" if it fails to do so. Meanwhile, Iran’s Revolutionary Guard Corps has attacked commercial vessels, including the Thai-flagged Mayuree Naree and the Liberian-flagged Express Rome, further destabilizing the region.

Economically, the strait’s closure has stranded 15 million barrels per day of crude and 4.5 million barrels of refined oil, straining regional storage capacity and pushing Brent crude prices above $88 per barrel. The International Energy Agency has proposed releasing 400 million barrels from reserves, its largest intervention in history, to mitigate supply shocks. Beyond oil, disruptions threaten aluminum, fertilizer, and agricultural supply chains, with ripple effects on manufacturing and retail sectors.

While Iran’s potential to allow limited tanker passage remains unconfirmed, analysts suggest partial reopening could ease immediate pressures but would require sustained de-escalation. The absence of U.S. minesweeping capabilities and reliance on less-effective littoral combat ships further complicate efforts to secure the strait. For now, global markets remain vulnerable to prolonged volatility as the conflict unfolds.