Oil tanker hit by unknown projectile in Gulf of Oman, UKMTO reports

An oil tanker was struck by an unknown projectile a few miles off Oman’s eastern coast, the UK Maritime Trade Operations (UKMTO) reported. The impact disabled the vessel’s engine, but all crew members were safe and there were no immediate reports of environmental damage. The incident highlights continuing risks for shipping companies using the Strait of Hormuz, through which about one-fifth of the world’s traded oil passed before the U.S. and Israel attacked Iran on Feb. 28. Pakistan’s delegation, led by army chief Field Marshal Asim Munir, held what officials described as highly positive talks in Tehran on reopening the waterway and reviving U.S.-Iran negotiations. The broader conflict also included a deadly Israeli strike in southern Gaza, Israel’s seizure of a U.N.-run vocational school near Jerusalem, and a warning from China over planned U.S. sanctions on Iran-linked entities. Related-market pricing suggests a 25% decline in the probability that Strait of Hormuz traffic will normalize by September 30.

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