Iran says it struck 10 vessels in the Strait of Hormuz after US attacks, Washington denies it and oil surpasses $100

The price of oil has risen above $100 per barrel, as the escalation of the conflict near the Strait of Hormuz has heightened fears over global energy supplies.

Iran said it had attacked 10 vessels in the area following a US operation that, according to Washington, resulted in the sinking of five Iranian tankers.

Iran’s Islamic Revolutionary Guard Corps (IRGC) announced on Wednesday that the vessels hit included two American ships and eight oil tankers. Iranian authorities said one sailor had been killed, while another was considered missing.

The United States Central Command rejected Iran’s claims, stating that none of the attempted attacks on American vessels had been successful.

The latest confrontation follows the US military’s statement that it had destroyed five Iranian tankers overnight. According to Washington, the action was a response to two attempts by Iran to strike an American warship in the two days preceding the operation.

Hormuz is one of the world’s main energy transportation routes. Before the conflict between the US and Iran began, up to 20% of the world’s oil and gas passed through the strait. A prolonged disruption of traffic could lead to further increases in energy prices and affect global inflation.

International markets have reacted with concern to the developments, while oil has surpassed the $100-per-barrel mark for the first time since July.

In the United States, stock markets have reacted negatively. Rising fuel and food costs could increase pressure on the Trump administration ahead of the midterm elections.

Tehran has said it will respond forcefully to the US attacks. The IRGC warned that for every two or three Iranian tankers hit, Iran would retaliate by attacking up to 20 vessels.

Iranian authorities have also announced that they could declare a much wider area near Hormuz off-limits to navigation. According to them, the zone would extend as far as the Gulf near Chabahar.

US Secretary of State Marco Rubio said the United States would continue attacks on Iranian tankers if Tehran carries out attacks against American warships.