Two tankers hit mines in Strait of Hormuz, disrupting key oil route
Back in June 2019, two oil tankers caught fire in the Strait of Hormuz after striking naval mines, according to Iran's Revolutionary Guards. The IRGC claimed the vessels — one in the eastern strait, the other within the waterway — had switched off navigation systems and used unauthorised routes. Guards did not identify the tankers' names or nationalities.
The strategic strait carries about one-fifth of global oil consumption. Since the Iran-US tensions escalated in late February 2019, Tehran restricted traffic to authorised routes only. The US responded with a naval blockade on Iranian ports and helped Gulf countries export 1.5 billion barrels through the strait since summer 2019. US Central Command said all mines had been cleared.
Separately, explosions were heard in Iranian port cities Qeshm, Sirik, Jask, and Bandar Abbas. Officials confirmed an "impact" in Jask. President Trump had threatened heavy strikes on Iran but later walked back, though US forces conducted occasional limited strikes.
For Nigeria, any sustained disruption to Hormuz traffic spikes global crude prices — directly affecting petrol import costs and government revenue. The 2019 crisis pushed Brent above $70/barrel; a prolonged closure could drive prices significantly higher.
Monitor global oil benchmarks and NNPC import cost updates — sustained Hormuz tension means higher landing costs for petrol, which eventually filters to pump prices or subsidy pressure.