A post by @FirstSquawk on X.

An oil tanker caught fire in the Strait of Hormuz after striking a naval mine, Iran's army said via state media. The strait is the world's most important oil chokepoint, with roughly a fifth of global petroleum consumption—close to 20 million barrels per day—normally moving through it by tanker. The reported mine strike raises the risk of disruption to those flows and to the tanker traffic and insurance costs tied to them. Watch for confirmation of the vessel's identity and cargo, any escalation in the waterway, and the response in crude prices and freight rates.