Pentagon Destroys 40+ Iran Minelayers in Hormuz as Oil Nears $96
Updated
Updated · CNBC · Jun 3
Pentagon Destroys 40+ Iran Minelayers in Hormuz as Oil Nears $96
3 articles · Updated · CNBC · Jun 3
More than 40 Iranian minelaying vessels and numerous mines in the Strait of Hormuz have been destroyed by the Pentagon, a White House official said.
Marco Rubio told the Senate Foreign Relations Committee that Iran had mined large stretches of the strait and was firing on commercial ships, deepening uncertainty over U.S.-Iran talks to end the war.
About 20% of global oil supply moved through Hormuz before the conflict, helping push WTI up 1.16% to $94.92 a barrel and Brent to $96.
Asia-Pacific markets were set to open mixed as investors weighed the oil shock and wider Middle East risk, even after the S&P 500 closed above 7,600 for the first time.
With a ceasefire in doubt, what is the true cost of reopening the world's most critical oil chokepoint?
As negotiations falter, what fate awaits the 22,500 mariners trapped in the Strait of Hormuz?
The US claims the war is over, but was it ever legally justified to begin with?
Strait of Hormuz Blockade 2026: Global Energy Shock, Military Escalation, and the Race for De-escalation
Overview
In March 2026, Iran’s blockade of the Strait of Hormuz triggered a severe international crisis, quickly escalating global energy markets and military tensions. Oil prices soared, building on earlier increases after the United States and Israel began a war with Iran. The U.S. responded with a major bombing raid on Iran’s oil export hub, but despite military action and offers of vessel escorts, shipping companies remained wary, demanding real safety assurances before resuming normal operations. This chain of events left the vital waterway under siege, with far-reaching impacts on global trade, energy security, and regional stability.