Brent tests $100 as Iran says two Hormuz ships seized

The Strait of Hormuz returned to the center of commodity pricing after Iran said it had seized two container ships in the waterway. CNBC reported that the announcement followed U.K. maritime reports of two attacks and Iranian media reports of a third vessel being targeted. Brent crude briefly moved above $100 before trading 0.5% higher at $99.03 per barrel, while June WTI traded 0.5% higher at $90.13.

The CNBC report cited Iran's IRGC Navy as saying the vessels were seized for alleged maritime violations and transferred to Iranian shores. CNBC said it could not independently verify the claim. The Associated Press separately reported that Iran fired on three ships and seized two, while Iranian state television said the IRGC had taken the vessels.

The operational details matter for insurance, freight, and inflation expectations. UKMTO said one vessel reported being fired upon about eight nautical miles off Iran's coast at 8:38 London time, with the crew safe and no damage reported. In an earlier incident roughly 15 miles northeast of Oman, UKMTO said an IRGC gunboat approached a container ship and fired, causing heavy damage to the bridge while the crew remained safe.

This qualifies as a Tier-1 commodity shock because Hormuz is a chokepoint for roughly one-fifth of global oil and gas. The next market check is whether the attack reports remain isolated incidents or force rerouting, insurance repricing, and renewed pass-through into energy-sensitive CPI baskets.

Not investment advice. Verify all figures with primary sources before acting.