A satellite view of the Strait of Hormuz, with the Musandam peninsula reaching north toward Iran's coast between the Gulf and the Gulf of Oman · MODIS Land Rapid Response Team, NASA GSFC, via Wikimedia Commons · Public domain

Study · YANBU · 2026-10-29 · 4 min read · Oil shipping and energy security · World and macro

Iran says mines hit three tankers; US says Hormuz lanes are clear

The two sides now give opposite accounts of the strait, while Saudi Arabia shot down another Houthi missile aimed at its oil region.

By the desk. Researched and written by an AI model from the sources listed at the end; nothing here restates another publication's text.

FRO Frontline Plcadjacent INSW International Seaways, Inc.adjacent

What changed since chapter 23

Since chapter twenty-three, Saudi Arabia said it shot down a Houthi ballistic missile aimed at the Eastern Province early on Thursday 29 October, and Iran said mines had struck three tankers near Hormuz. ^{[3, 4, 5]}

'Air defenses intercepted and destroyed a ballistic missile launched by the terrorist Houthi militia toward the Eastern Province,' coalition spokesman Turki al-Maliki said, AFP reported. Saudi Civil Defense had issued warnings for Najran and the Eastern Province, then said minutes later that the danger had passed in both, Asharq Al-Awsat reported. ^{[4, 3]}

On Wednesday 28 October the Houthis fired two ballistic missiles at Aden airport, the spokesperson for Yemen's armed forces said, Arab News reported. He said it was the sixth Houthi strike on the airport in a matter of days and caused civilian injuries. A Houthi health official said Saudi-led airstrikes on a market in al-Jawf province killed 14 people, AP reported. ^{[8, 9]}

The record

Iran's Revolutionary Guards said three tankers exploded and caught fire after hitting sea mines on an unauthorized route south of the strait over the past 24 hours, Arab News reported. The Guards said the tankers had switched off their radar and navigation systems and ignored warnings. ^{[5, 17]}

UKMTO, the British maritime agency, reported a ship on fire about nine nautical miles north of Khasab in Oman on Thursday, without naming a cause or casualties, Arab News reported. Gulf News reported that UKMTO put the incident at 3 a.m. GMT, classed it as suspicious activity and advised ships to transit with caution. ^{[5, 7]}

Iran's foreign minister Abbas Araghchi said on Wednesday that Tehran was discussing with mediators how to carry out its seven-day plan to end the war and reopen the strait, Arab News reported. An official briefed on the talks said Qatari mediators presented a draft peace agreement on Sunday. A senior Iranian official told Reuters Qatar offered only 'unacceptable ideas and not an offer', Gulf News reported. ^{[11, 10]}

The Wall Street Journal reported on Wednesday that Washington told several Gulf countries to prepare for a possible 'short, intense military campaign' against Iran after the US midterm elections. President Trump had not made a final decision, the Journal said, according to Arab News. Araghchi warned of a 'devastating impact on int'l markets' from any Israeli-led military move in the Gulf, the same report said. ^[12]

Saudi foreign minister Prince Faisal bin Farhan and his Kuwaiti counterpart called in Riyadh on Wednesday for a firm international stand against Houthi attacks, Asharq Al-Awsat reported. UN human rights chief Volker Turk said Houthi attacks on Saudi airports and civilian infrastructure raise 'questions of war crimes', Arab News reported. ^{[13, 14]}

Brent settled at $115.32 a barrel on Wednesday, up 1.3 percent, Bloomberg reported through Rigzone, after the Journal's report. Early on Thursday Brent was down 1.1 percent at $114.10, Arab News reported, as hopes for talks eased supply concerns. ^{[15, 16]}

Who it reaches

Frontline (FRO) is adjacent: its second-quarter report said renewed Red Sea attacks 'put pressure on the alternative route that handled much of the displaced Saudi Arabian volume'. It said risk levels across Hormuz and the Red Sea were 'rapidly changing with little warning'. International Seaways (INSW) is adjacent: its 10-Q expects extra war-risk insurance premiums in the waters of any country bordering the Arabian Gulf or the Red Sea. ^{[1, 2]}

Where the sources disagree

The US Central Command said on Wednesday that reports of ships hitting mines in Hormuz, circulated by what it called 'Iranian-controlled media', were false, Gulf News reported. 'All internationally recognized primary transit routes through the Strait of Hormuz have been cleared of sea mines by US forces and remain so,' it said. It named no single incident, Gulf News noted, and it was issued before the Guards' claim of Thursday. ^{[6, 5]}

The Journal reported that Vice President JD Vance wrote to Iranian security chief Mohsen Rezaei to revive talks, Gulf News reported. Trump denied directing Vance to restart negotiations and said the contact concerned medical supplies, Gulf News and Al Jazeera reported. Arab News put Wednesday's WTI gain at 3 percent; Bloomberg, through Rigzone, reported 2.9 percent. ^{[7, 17, 16, 15]}

The reports read for this study carried no new Houthi claim on Yanbu, the East-West pipeline or Red Sea shipping between Wednesday and Thursday morning. ^{[3, 4, 8]}

What settles it next

Iran's strait authority said that from Sunday 1 November legal action will be taken against all vessels of Sinokor, the largest owner of supertankers, gCaptain reported from Bloomberg. OPEC+ producers meet on Sunday and are expected to keep December output targets steady, according to people with knowledge of the matter, Arab News reported. The US midterm elections are on Tuesday 3 November, Arab News reported. ^{[18, 19, 12]}

Sources

Every stock is a company; the desk grades the company behind the stock. This article describes; it does not recommend. Adjacent means the company is not named in the event and the path by which it is reached is stated above.

All news →