Iran War Day 260: Iranian Tanker Attacks Continue
Iran struck civilian shipping in the Strait of hormuz again Saturday; the IRGC said a tanker hit a mine, the fifth such incident since Thursday. Despite these attacks, global oil production has returned to near‑prewar levels and weak demand has produced a supply glut, though higher production costs and limited refinery capacity keep consumer fuel prices elevated. The IRGC also claimed it hit a U.S.radar site in Bahrain, which CENTCOM says it intercepted. Brent closed at $96.29/barrel; U.S. pump averages were about $3.84 for gas and $6.07 for diesel.
Iran continued its campaign against civilian shipping in the Strait of Hormuz with another strike on a tanker Saturday morning.
The IRGC claimed the tanker struck a mine as it attempted to transit the waterway. Iran’s state-affiliated Tasnim news service reported five such incidents since Thursday night.
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Despite continued Iranian pressure on maritime traffic, world oil production has rebounded to roughly prewar levels. Because of reduced demand after several months of severe energy market disruption, a supply surplus is now glutting world markets. Increased production costs and limited refinery capacity has kept consumer prices well above their prewar levels.
The IRGC also claimed Friday to have struck an American radar installation in Bahrain. CENTCOM denied the report, saying it had intercepted the attack.
Brent crude closed Friday at $96.29 per barrel. AAA reported Saturday’s national average prices per gallon as $3.84 for regular gas and $6.07 for diesel.
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