A post by @FirstSquawk on X.

Iran’s IRGC Navy reported that two tankers caught fire after naval mine strikes in the Strait of Hormuz, putting the world’s most important oil chokepoint back in focus. The Strait of Hormuz carries roughly 20 million barrels per day of oil and petroleum liquids, about one-fifth of global consumption, so any disruption there can quickly feed through to crude prices, freight rates and inflation expectations. The report did not specify the vessels’ names, cargoes or the extent of damage, leaving markets to gauge whether the incident is isolated or signals a broader threat to transit. Traders will watch for confirmation from shipowners, insurers and Western navies, along with war-risk insurance premiums and tanker rates, as well as any IRGC follow-up statements.