Zürcher Nachrichten - Cargo vessels hit as Iran threatens to close Gulf oil chokepoint

EUR -
AED 4.117613
AFN 72.877611
ALL 91.227262
AMD 406.670309
ANG 2.006709
AOA 1028.141551
ARS 1701.703875
AUD 1.606823
AWG 2.019563
AZN 1.906758
BAM 1.954207
BBD 2.265179
BDT 138.3772
BGN 1.95967
BHD 0.425449
BIF 3366.885457
BMD 1.121201
BND 1.43904
BOB 13.13306
BRL 5.678435
BSD 1.124903
BTN 106.741615
BWP 15.411712
BYN 3.386829
BYR 21975.540274
BZD 2.261982
CAD 1.580058
CDF 2593.896677
CHF 0.924593
CLF 0.027948
CLP 1099.943205
CNY 7.502181
CNH 7.491013
COP 3562.818103
CRC 511.185578
CUC 1.121201
CUP 26.997992
CVE 110.17568
CZK 24.339585
DJF 200.274766
DKK 7.474963
DOP 69.004058
DZD 150.717474
EGP 60.261867
ERN 16.818016
ETB 183.746236
FJD 2.533298
FKP 0.841627
GBP 0.841187
GEL 2.904046
GGP 0.841627
GHS 13.13635
GIP 0.841627
GMD 82.405035
GNF 9896.021357
GTQ 8.595032
GYD 235.349201
HKD 8.799354
HNL 30.198518
HRK 7.533464
HTG 147.30598
HUF 363.064514
IDR 20225.345459
ILS 3.485198
IMP 0.841627
INR 106.468969
IQD 1705.317487
IRR 2013539.711087
ISK 136.203185
JEP 0.841627
JMD 178.817424
JOD 0.794899
JPY 177.361672
KES 145.632615
KGS 98.049146
KHR 4572.313583
KMF 493.328374
KPW 1009.080887
KRW 1490.760489
KWD 0.348413
KYD 0.93744
KZT 509.047312
LAK 25306.067272
LBP 100714.391592
LKR 372.488288
LRD 191.753498
LSL 18.487255
LTL 3.310616
LVL 0.678203
LYD 7.222599
MAD 10.928497
MDL 20.176324
MGA 5062.963155
MKD 61.59479
MMK 2353.977122
MNT 4032.300645
MOP 9.094127
MRU 44.97094
MUR 52.976469
MVR 17.333676
MWK 1950.644695
MXN 20.778549
MYR 4.57686
MZN 71.639261
NAD 18.491127
NGN 1495.132448
NIO 41.396624
NOK 10.560845
NPR 170.825796
NZD 1.980731
OMR 0.431108
PAB 1.124898
PEN 3.869346
PGK 5.107791
PHP 70.7091
PKR 311.408205
PLN 4.369197
PYG 6423.417518
QAR 4.111866
RON 5.325254
RSD 117.440212
RUB 93.058421
RWF 1660.376135
SAR 4.219809
SBD 9.042091
SCR 15.594753
SDG 674.387756
SEK 11.114981
SGD 1.434846
SHP 0.846221
SLE 27.67122
SLL 23511.030021
SOS 642.887407
SRD 42.375227
STD 23206.597716
STN 24.479827
SVC 9.84302
SYP 14577.855496
SZL 18.484262
THB 37.661701
TJS 10.366096
TMT 3.935416
TND 3.355879
TOP 2.699583
TRY 55.558471
TTD 7.636775
TWD 36.424459
TZS 2962.278203
UAH 50.457569
UGX 4646.233266
USD 1.121201
UYU 45.283289
UZS 13561.12685
VES 985.435469
VND 29036.864388
VUV 133.3919
WST 3.12571
XAF 655.957
XAG 0.019493
XAU 0.000268768092
XCD 3.030102
XCG 2.027356
XDR 0.792747
XOF 655.957
XPF 119.331742
YER 264.771893
ZAR 18.471759
ZMK 10092.14707
ZMW 22.515927
ZWL 361.026276
SSP 6447.7749
MXV 2.345686
  • RBGPF

    3.9200

    75.42

    +5.2%

  • RYCEF

    -0.3900

    17.61

    -2.21%

  • RELX

    0.6400

    39.06

    +1.64%

  • CMSD

    0.0100

    19.86

    +0.05%

  • GSK

    0.4900

    49.51

    +0.99%

  • BCE

    0.1500

    20.33

    +0.74%

  • RIO

    0.1100

    90.32

    +0.12%

  • CMSC

    0.0100

    19.89

    +0.05%

  • VOD

    0.2600

    16.11

    +1.61%

  • BCC

    0.6500

    76.13

    +0.85%

  • NGG

    2.1500

    81.22

    +2.65%

  • BTI

    2.0000

    60

    +3.33%

  • JRI

    0.0800

    10.56

    +0.76%

  • AZN

    -1.2700

    165.41

    -0.77%

  • BP

    1.7700

    50.21

    +3.53%

Cargo vessels hit as Iran threatens to close Gulf oil chokepoint
Cargo vessels hit as Iran threatens to close Gulf oil chokepoint / Photo: - - US Central Command (CENTCOM)/AFP

Cargo vessels hit as Iran threatens to close Gulf oil chokepoint

Three commercial ships took fire in the Gulf on Wednesday as Iran launched strikes against its oil-exporting neighbours, threatening shipping in the Strait of Hormuz and plunging the global energy economy into crisis.

Text size:

Oil prices have surged and markets have see-sawed since the ends of last month, when the United States and Israel attacked Iran, killed its supreme leader and plunged the Middle East into war.

As the conflict entered its 12th day, all eyes were on the vital sea lane.

The leaders of the G7 powers were to hold a video meeting later in the day to discuss opening their strategic petroleum reserves to counter the rising prices. Ahead of the talks, the group's energy ministers said they "stand ready to take all necessary measures".

Analysts say a prolonged closure of the Strait of Hormuz, which carries 20 percent of world oil and gas supplies and a third of its fertiliser for food production, would have a devastating effect on the economy, particularly in Asia and Europe.

On Tuesday, the Pentagon said US forces had carried out strikes that destroyed 16 mine-laying vessels that could have been used to attack or deter traffic in the strait, but attacks with drones or missiles continued on Wednesday with at least three ships hit.

- Airport hit -

According to the UK maritime security centre the crew of a cargo vessel in the Strait of Hormuz north of Iran was forced to evacuate when an "unidentified projectile" caused a fire on board.

Separately a bulk carrier and a container ship were hit in the Gulf off the United Arab Emirates.

"If for any reason mines were placed, and they are not removed forthwith, the military consequences to Iran will be at a level never seen before," US President Donald Trump posted on social media.

On shore, drones fell near Dubai airport, injuring four people, the city's government said.

Trump has said the US Navy could accompany tankers through the strait, but his administration acknowledged that a post by his energy secretary which briefly reassured markets by announcing a first such escort was untrue.

And experts were dubious about whether naval escorts would be enough to reopen Hormuz to trade.

"Any escort mission would likely face persistent threats from Iranian missiles and drones, and the security risks alone could make a single transit through the strait more costly than the profit margin on the oil shipment itself," the Soufan Center think tank said, in a briefing note.

"Experts estimate that Iran's naval mine stockpile sits anywhere from 2,000 to 6,000 mines, which would further complicate any naval plan to escort commercial tankers," it said.

- 'Not seeking ceasefire' -

The Israeli-US attacks came weeks after Iranian authorities ruthlessly crushed mass protests, although the United States and Israel say they are not necessarily seeking to topple the Islamic republic.

Iranian authorities warned against dissent at home, with the country's police chief saying protesters would be viewed and dealt with as "enemies".

"All our forces are also ready, with their hands on the trigger, prepared to defend their revolution," national police chief Ahmad-Reza Radan said, in comments aired by IRIB.

Iran's parliamentary speaker Mohammad Bagher Ghalibaf, a former top commander in the elite Revolutionary Guards, said in an English-language social media post: "Certainly we aren't seeking a ceasefire."

In Iran, ordinary people were doing the best they could to adapt to living under frequent US-Israeli strikes.

"We've put our faith in God. For now, there's food in the shops; every day I go to buy greens and bread, that's all," Tehran resident Mahvash, 70, told AFP journalists in Paris.

"People are calm," said another resident. "They are getting used to living despite everything and adapting -- as best they can -- to this situation."

- Ayatollah 'safe and sound' -

The United States and Israel launched the war on February 28 with an attack that killed Iran's veteran leader, Ayatollah Ali Khamenei.

His son Mojtaba Khamenei has been named his successor, though he has yet to appear in public, amid reports that he has been wounded.

"I heard news that Mr Mojtaba Khamenei had been injured. I have asked some friends who had connections. They told me that, thank God, he is safe and sound," said Yousef Pezeshkian, son of Iran's president, in a post.

Iran's health ministry said on March 8 that more than 1,200 people had been killed in US and Israeli strikes, and more than 10,000 civilians injured. AFP was not in a position to independently verify the figures.

Iraq and Lebanon, both home to Iran-backed fighters, have become proxy grounds in the war.

In Iraq, Iranian-linked groups said Tuesday that five of their fighters died in strikes they blamed on the United States.

In Lebanon, hundreds of people have been killed and hundreds of thousands have fled their homes following Israeli airstrikes and ground operations targeting Iran-backed Hezbollah.

New Israeli strikes were reported in Beirut's southern suburbs on Wednesday, with the health ministry saying another five people had been killed in the southern town of Qana.

burs-dc/ser

N.Zaugg--NZN