Iran's Guards say tankers hit mines near Hormuz; Brent slips below $100 as talks continue
Maritime officials have not confirmed the Guards' claims, while mediators work on a US-Iran proposal.
- Guards' claim: 4 tankers on 4 Nov, 2 more on 6 Nov
- Brent: about $94 on 4 Nov, $96.70 on 5 Nov
- Status: unconfirmed by maritime officials
The claims
Iran's Revolutionary Guard said on 4 November that four tankers were destroyed by mines and were burning, and on 6 November that two more tankers hit mines in or near the Strait of Hormuz. It has declared the strait 'unsafe and closed' to ships that do not coordinate with Tehran. Maritime officials have not confirmed these incidents.
On 5 November, British military monitors said a tanker was hit by two unidentified projectiles about 50 nautical miles north of Madinat ash Shamal, Qatar.
Oil prices
Brent fell below $100 a barrel on 4 November for the first time since September, dropping roughly 8% to about $94 midday in New York. It rose 2.2% to $96.70 the next day. Prices have swung sharply on each headline.
Diplomacy
Qatari, Pakistani and Saudi mediators are passing messages in indirect US-Iran talks, and Oman said it is working with Iran on a mechanism to manage traffic through the strait. President Trump told the Financial Times he had no immediate plans for new strikes but that the US was 'locked and loaded' if needed.
Why it matters for India
India imports most of its crude oil, so a prolonged disruption in Hormuz or a swing in Brent feeds directly into fuel costs and the rupee.
