Iraq has suspended operations at its oil terminals after an alleged attack involving Iran’s explosive-laden boats targeted fuel tankers in Iraqi waters, leaving a crew member dead.
According to Al-Fartousi, the Director General of the General Company for Ports of Iraq (GCPI), the incident occurred during a ship-to-ship (STS) fuel transfer operation involving a tanker carrying petroleum products supplied by the State Organization for Marketing of Oil (SOMO) to the Iraqi Oil Tankers Company.
“Less than an hour ago, a tanker loaded with petroleum products supplied by SOMO to the Iraqi Oil Tankers Company was involved in an incident,” said Farhan Al-Fartousi.
Al-Fartousi noted that rescue teams recovered 38 people while search operations continued for missing crew members.
Iraq Suspends Oil Tanker After Attack by Iran
Al-Fartousi highlighted that the tankers were located approximately 30 miles off the Iraqi coast at the time of the explosion.
Also Read: Iran Asserts Control of Strait of Hormuz with Intensified Oil Shipments to China
He explained that the tanker was in the process of loading fuel when an explosion struck the vessel. One of the smaller tankers involved reportedly flies the Malta flag.
“One of the smaller tankers involved flies the Maltese flag, but we do not know whether it was a direct strike or a waterborne improvised explosive device,” said Al-Fartousi.
Although oil terminals have been suspended as a precautionary measure, Al-Fartousi argued that commercial port activities remain unaffected.
He stated that Ships will continue to operate normally at Umm Qasr Port, including both the North and South Umm Qasr terminals, where loading and unloading operations are ongoing while vessels wait offshore for further instructions.
Oil Prices Surge as Iran Conflict Threatens Supply
The closure of the Strait of Hormuz has resulted in a surge in oil prices in some countries.
Earlier, Iran’s spokesperson warned the United States that oil prices could soar to $200 a barrel as escalating U.S. and Israeli strikes against the country continue to rattle global energy markets.
“Get ready for oil to be $200 a barrel, because the oil price depends on regional security, which you have destabilized,” said Ebrahim Zolfaqari, spokesperson for Khatam al-Anbiya Central Headquarters.
Also Read: Food Prices to Rise as Trump Spends Over $891 Million a Day on Iran War
Global oil prices surged over 4% as security threats in the Strait of Hormuz heightened market fears.
Following the ongoing war, several commercial vessels have been attacked in the area, prompting the International Energy Agency (IEA) to release 400 million barrels from its global strategic reserves as the US adds 172 million barrels from its Strategic Petroleum Reserve.
“Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves,” said Wright.
