WANA (Jun 26) – Global oil prices climbed within minutes of the Islamic Revolutionary Guard Corps (IRGC) issuing a warning over vessel movements through the Strait of Hormuz, underscoring once again the strategic waterway’s continued influence on the global energy market.

 

An analysis of oil price movements shows that Brent crude rose from $73.13 to $75.81 per barrel shortly after the IRGC’s warning was issued, marking an increase of $2.68 per barrel in a matter of hours.

 

The development came after Oman announced that it was working with the International Maritime Organization (IMO) to establish a temporary maritime route through the Strait of Hormuz. In response, the IRGC stated that the only safe navigation corridor is the route designated by Iran and warned that vessels using unauthorized routes would face enforcement measures.

 

Following the warning, several ships reportedly altered their course to comply with the Iranian-designated route. In addition, a vessel described as violating the navigation guidance was reportedly targeted off the coast of Oman in the Strait of Hormuz.

 

The Persian Gulf Waterway Authority later reiterated that any consequences arising from the use of unauthorized shipping lanes would be the responsibility of the vessel’s owner, operator, and captain.