Explosions Hit Oil Tankers in the Strait of Hormuz

Two oil tankers suffered explosions and fires after hitting naval mines in the Strait of Hormuz. The Iranian Revolutionary Guard Navy states that the vessels were using unauthorized routes and had their radar systems turned off at the time of the incident.

The Iranian government has imposed severe restrictions on navigation in the area since the start of the conflict with the United States in February. Tehran requires ships to obtain prior authorization to cross the channel and has attacked vessels that fail to comply with the new traffic rules.

Iran's armed forces have reported several episodes of fire and explosions on ships in the region over the last few weeks. The most recent incident involved a supertanker and a vessel carrying liquefied natural gas, according to information released by local state media.

The United States maintains a naval blockade on Iranian ports and offers military support to ships using the route. The American military command states that it has conducted mine-clearing operations in the main shipping lanes of the strait to ensure the passage of vessels.

The instability in the Strait of Hormuz increases the perception of global geopolitical risk, which tends to put pressure on the dollar exchange rate and Bitcoin volatility.