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Iran begins laying mines in Strait of Hormuz, sources say
Iran has begun laying mines in the Strait of Hormuz, the world’s most important energy chokepoint that carries about one-fifth of all crude oil, according to two people familiar with US intelligence reporting on the issue.
The mining is not extensive yet, with a few dozen having been laid in recent days, the sources said. But Iran still retains upward of 80% to 90% of its small boats and mine layers, one of the sources said, so its forces could feasibly lay hundreds of mines in the waterway.
Iran’s Islamic Revolutionary Guard Corps, which now effectively controls the strait along with Iran’s traditional navy, has the capability to deploy a “gauntlet†of dispersed mine-laying craft, explosive-laden boats and shore-based missile batteries, CNN has reported.
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CNBC Daily Open: Oil jitters persist as U.S. targets Iranian ships near Strait of Hormuz
Taken from CNBC’s Daily Open, our international markets newsletter — Subscribe today
Oil was slightly higher after plunging more than 11% Tuesday, as traders expect a group of countries to tap emergency crude reserves to mitigate disruption caused by the war in the Middle East. The sharp drop came despite aggressive rhetoric from U.S. President Donald Trump and Defense Secretary Pete Hegseth about attacking Iran, with Hegseth saying Tuesday "will be our most intense day of strikes."Â
U.S. crude oil and Brent crude tumbled more than 17% before paring some losses after U.S. Secretary of Energy Chris Wright on Tuesday falsely claimed on X that the U.S. Navy had escorted a tanker through the Strait of Hormuz. The post was subsequently deleted, and confirmed to be wrong by White House press secretary Karoline Leavitt. West Texas Intermediate Crude was last up 0.35% at $83.76 a barrel, while Brent crude was flat at $87.8 a barrel.
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