Two tankers hit off Sohar and in Hormuz on 11 October as Brent swings on Monday

Two more tankers were hit near the Strait of Hormuz on Sunday 11 October, and oil prices swung through Monday's session in Asia. The attacks add to the run of incidents in the Gulf of Oman that shippers and fuel buyers have been watching since early October.

Business Today reported on 12 October that two tankers carrying Indian seafarers were struck on 11 October:

• MT Valthera, a Marshall Islands flagged tanker, was hit by an unknown projectile in the Strait of Hormuz, causing a fire on board. India's Ports, Shipping and Waterways Minister Sarbananda Sonowal said on X that all 11 Indian seafarers on board were safe.
• MT Petro Dolphin, a Nicaragua flagged tanker, was hit by a drone at Sohar Anchorage off Oman while waiting to berth. Business Today said it had 12 crew, 11 Indian and one Bangladeshi, and that nine were rescued and two were missing. A social media post embedded in the same report said 10 were rescued. Oman's Coast Guard was leading search and rescue.

Arab News, carrying a Reuters report published on 12 October, said the UK Maritime Trade Operations centre (UKMTO) had reclassified an incident in the vicinity of Sohar anchorage as an attack after confirming that a tanker was struck by a drone. That report said the vessel was damaged and local authorities were helping evacuate the crew. Its headline said all crew were safe, which differs from the Indian accounts of missing seafarers. Neither report said who launched the attacks.

Business Today said India's Ministry of External Affairs strongly condemned the attacks and warned that repeated hostilities against commercial shipping risk worsening an already volatile situation. The same report counted at least seven tanker attacks in the first week of October, including the MT On Peace on 6 October, and linked the rise to the collapse of Iran-US peace talks and the ongoing US blockade. It also said crude shipments through the waterway had reportedly recovered to near pre-war levels.

Seeking Alpha reported on the evening of 11 October (US time) that Brent rose above US$105 a barrel in early Asian trading on Monday, as renewed Houthi attacks on Saudi Arabia raised concern about energy supplies. Later on Monday, Trading Economics showed Brent at US$102.87, down 1.76% on the day, and said prices fell toward US$103 after a two-session rally. It linked the fall to reports that Russian diesel could ease global fuel shortages, following US President Trump's announcement of a diesel supply deal, while the Houthi strikes on a Saudi airport and the drone attack on a tanker off Oman kept supply risks in focus.

The airport attacks and their effect on flights were covered in our post on the Riyadh airport attacks and SriLankan's suspension of Riyadh flights.

According to Business Today, the Petro Dolphin was hit while at anchor waiting to berth, not while making the transit through the Strait. That suggests ships waiting at anchorages in the region are also exposed. For carriers and tanker owners, this tends to keep war risk insurance and security costs high, and those costs usually reach cargo owners through surcharges.

For Sri Lanka, oil prices feed directly into diesel, bunker and freight costs. Monday's swing, from above US$105 to under US$103 within a day, shows how much prices are moving on each headline. Our earlier post on Brent at US$104 and Hormuz tanker attacks covers how this links to local fuel prices.

• Ask your shipping line or forwarder whether any war risk or emergency surcharges for Gulf and Gulf of Oman ports, including Sohar, have changed after 11 October.
• Check that marine cargo insurance for shipments to or through the region still covers war risks, and ask your insurer about any new conditions.
• Allow extra time for cargo moving to or from Gulf ports, as ships may wait longer at anchorages or change routes.
• Follow daily oil price moves before fixing fuel related budgets, since prices are shifting sharply from one session to the next.