US Vice President JD Vance said petrol prices would be much higher without the US Navy’s presence in the Strait of Hormuz. He acknowledged that fuel costs remain elevated but predicted they would fall after the US-Israel war on Iran ends. Vance blamed Iran’s restrictions on shipping and attacks on tankers for disrupting global energy supplies. He argued that allowing Tehran to control the strategic waterway would further increase costs for consumers.
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Vance claimed petrol prices would be three times higher without the US Navy helping oil and gas shipments move through the strait. He said Iran’s actions had created an unprecedented threat to international energy supplies. Meanwhile, a tugboat was struck by two unidentified projectiles northeast of Khor Fakkan in the United Arab Emirates on Sunday. The UK Maritime Trade Operations agency reported one minor injury and damage to the vessel, which continued its journey.
The incident added to concerns over maritime security near the Strait of Hormuz, a vital route for global oil shipments. The UK maritime agency did not confirm the exact time of the attack or provide further details about the injured person. Separately, Iran’s Islamic Revolutionary Guard Corps said two oil tankers caught fire after striking naval mines in the strait. Each vessel was reportedly carrying around two million barrels of crude oil, although the claims could not be independently verified.
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Iranian state television also aired footage that reportedly showed an oil tanker exploding after hitting a naval mine. The footage emerged as US forces guided ships along a route off Oman’s coast. Tehran had warned against unauthorised transit through the strategic waterway. These developments have heightened concerns about disruptions to energy shipments and their potential impact on international fuel prices.
Meanwhile, US President Donald Trump predicted that the war against Iran would end very quickly. Speaking at a rally in Kentucky ahead of the November midterm elections, Trump defended Washington’s military campaign. He also claimed that US operations had eliminated Iran’s nuclear capabilities. However, continued maritime incidents and conflicting statements from the parties have left uncertainty surrounding the conflict’s duration and its wider economic consequences.