Explosions reported on two foreign vessels in the Gulf, authorities say

March 12, 2026

Multiple explosions struck foreign vessels in the Gulf region and Strait of Hormuz on Thursday, killing one person and prompting Iraq to halt oil port operations. Iran claimed responsibility for some attacks, stating it would block oil shipments to the US, Israel, and their allies through the strait, which normally handles 20% of global oil traffic. The maritime attacks occurred as 32 countries voted to release 400 million barrels of oil reserves to address the crisis, while oil prices surged amid regional instability.

Who is affected

One person killed and 38 people rescued from tankers near Umm Qasr
23 crew members rescued from Thai-flagged vessel
Crew of Japanese-flagged container ship (sustained minor damage)
Crew of unidentified container ship off UAE coast
Four people injured near Dubai International Airport
Seven people killed and 23 injured in strikes on villages in Lebanon's Bekaa Valley
Iran's Supreme Leader Mojtaba Khamenei (reportedly injured)
Global oil markets and consumers (experiencing price increases)
Countries dependent on Gulf oil shipping routes

What action is being taken

Iraqi authorities have stopped oil port operations
32 countries are releasing 400 million barrels of oil through the IEA
G7 leaders are working to explore the possibility of escorting ships
US Central Command is warning civilians to stay away from Iranian ports along the Strait of Hormuz
Iran is conducting attacks on vessels and launching strikes on targets including Saudi Arabian oilfields, Dubai International Airport, and US bases in Qatar, Kuwait, and Iraq
Saudi Arabia is intercepting ballistic missiles and drones
Israel is striking Hezbollah targets in Lebanon

Why it matters

This escalating conflict threatens global energy security and economic stability, as the Strait of Hormuz is a critical chokepoint through which approximately 20% of the world's oil normally passes. Iran's attacks and blockade threats have effectively closed this vital shipping channel, causing oil prices to soar and forcing countries to tap strategic reserves. The expanding scope of Iranian retaliation—targeting not just vessels but also infrastructure and military installations across multiple countries—signals a dangerous regional escalation that could trigger broader military confrontation and further disrupt international trade and energy markets.

What's next

G7 leaders plan to escort ships "when the right security conditions are in place"
Trump has indicated the US military could escort ships through the strait
Trump has warned Iran of "unprecedented military consequences" if it continues mining the strait

Read full article from source: BBC