A post by @FirstSquawk on X.

Iran’s navy said an oil tanker caught fire after striking a naval mine in the eastern Strait of Hormuz, according to a First Squawk report. The incident puts the world’s most important oil chokepoint back in focus, with roughly a fifth of global petroleum consumption typically moving through the strait. Traders will watch crude prices, tanker rates and insurance costs for signs of a risk premium, and monitor whether the affected vessel and nearby traffic are secured.