So this is another interesting announcement from whoever is still alive and willing to run the social media feed at what’s left of the Iranian government headquarters.
JUST IN – Iran says it “closed” the Strait of Hormuz, will target and “set on fire” any ship that tries to pass. pic.twitter.com/XWFHDuTb65
— Disclose.tv (@disclosetv) March 2, 2026
Well, the drone happy little buggers have already wreaked some havoc, having dropped a strike onto one of their own shadow tankers that had been moored near the Strait for over a week.
I guess they got tired of sitting around and just wanted to watch something burn.
And now they’re claiming they’ve popped another one who attempted a transit.
🧵 Iran’s 🇮🇷 IRGC Commander has announced the Strait of Hormuz closed, after striking a tanker with two drones, and setting it on fire. 🚢💥🔥
That ship has been identified as the Honduran-flagged 🇭🇳 Athe Nova. pic.twitter.com/jqh5DKjSfz
— Emergent Perspective (@_emergent_) March 2, 2026
And there have been a few other maritime incidents in the region, including a strike at a shipyard at a port in Bahrain.
🚨Strait of Hormuz March 2 UPDATE🚨
The latest from @UK_MTO @CMF_Bahrain Joint Maritime Information Center1⃣Overall Maritime Risk Level: CRITICAL 🔴
2⃣Confirmed vessel incidents past 24 hours
▶️SKYLIGHT (IMO 9330020) – Attacked at anchor just north of Oman; vessel on fire;… pic.twitter.com/MZ5YKbbPFU— Sal Mercogliano (WGOW Shipping) 🚢⚓🐪🚒🏴☠️ (@mercoglianos) March 2, 2026
1⃣Overall Maritime Risk Level: CRITICAL 🔴
2⃣Confirmed vessel incidents past 24 hours
▶️SKYLIGHT (IMO 9330020) – Attacked at anchor just north of Oman; vessel on fire; crew evacuated and four wounded
▶️MKD VYOM (IMO 9284386) – Hit in Gulf of Oman by projectile above the waterline; explosion and engine room fire; One crewmember killed; fire under control and salvage ongoing
▶️HERCULES STAR (IMO 9295531) – Struck off UAE in Persian Gulf causing fire; no injuries and continued voyage
▶️OCEAN ELECTRA (IMO 9591466) – Near-miss in Persian Gulf
▶️STENA IMPERATIVE (IMO 9666077) – US tanker hit by multiple projectiles in Bahrain shipyard one shipyard worker killed and two injured; fire on board extinguished
Where the Iranians have managed to close the Strait is through rattling the maritime insurance markets, and that is damn near worse than a flaming tanker or two.
Major marine insurers just cancelled war risk coverage for the Strait of Hormuz. 150+ ships stranded. Rates tripled. One seafarer dead. And this is only day 3 of the Iran conflict.https://t.co/EbxVEOtQgo
— gCaptain (@gCaptain) March 2, 2026
There are around 150 ships stuck at the moment.
Marine insurers are cancelling war risk coverage for vessels and oil shipping rates are set to surge further after the widening Iran conflict left at least three tankers damaged, a seafarer killed and 150 ships stranded around the Strait of Hormuz.
Iran has responded to U.S. and Israeli strikes that began on Saturday with retaliatory attacks that have sharply increased risks to commercial shipping in the past 24 hours.
In the Strait of Hormuz and surrounding waters, at least 150 vessels including oil and liquefied natural gas tankers had dropped anchor, shipping data showed on Sunday.
Typically, ships carrying oil equal to about one-fifth of global demand from Saudi Arabia, the United Arab Emirates, Iraq, Iran, and Kuwait sail through the Strait along with tankers hauling diesel, jet fuel, gasoline and other products.
The disruption sparked a 9% jump in global oil prices on Monday.
…Meanwhile, costs of shipping oil from the Middle East to Asia – already at six-year highs – are set to rise further as the widening Iran conflict is deterring shipowners from sending vessels to the region, market sources and analysts said on Monday.
Spot shipping rates from the Middle East to Asia, more commonly known as TD3C, are expected to extend gains, shipbrokers said. The benchmark has nearly tripled since the start of 2026.
Brokers pegged the spot rate for hiring a very large crude carrier on the key Middle East to China route early in Asia on Monday about 4% higher than on Friday, near W225 on the Worldscale industry measure or equivalent to at least $12 million.
Some of this could be alleviated if the US Navy could form escorts for American-flagged carriers in the region, but we simply do not have enough assets.
If the US military could start escorting American flagged ships through the straits, it would be a clear sign to every other country who might want to sign up for American Maritime security/insurance🤔
— L.R.T.Hafer (@t_hafer) March 2, 2026
On the upside, it’s not as if what we have in the Gulf of Oman and elsewhere hasn’t been using their time well, because they have.
In fact, they’ve been awfully busy, and not just launching aircraft for strikes inside Iran.
This shot from a nuclear submarine of jets ripping off a carrier deck might be the most epic thing you’ll see all week. 🔥🦅🇺🇸 pic.twitter.com/qR8QjYhf8f
— David J Harris Jr (@DavidJHarrisJr) March 2, 2026
What navy the Iranians had has been pretty well scuttled.
It started off with a corvette…
An Iranian Jamaran-class corvette was struck by U.S. forces during the start of Operation Epic Fury. The ship is currently sinking to the bottom of the Gulf of Oman at a Chah Bahar pier. As the President said, members of Iran’s armed forces, IRGC and police “must lay down your… pic.twitter.com/NzsR3dI2Hs
— U.S. Central Command (@CENTCOM) March 1, 2026
…and our guys polished off the rest of what the Iranians had in the Gulf of Oman today.
Two days ago, the Iranian regime had 11 ships in the Gulf of Oman, today they have ZERO. The Iranian regime has harassed and attacked international shipping in the Gulf of Oman for decades. Those days are over. Freedom of maritime navigation has underpinned American and global… pic.twitter.com/nzdkMVMqZC
— U.S. Central Command (@CENTCOM) March 2, 2026
…Freedom of maritime navigation has underpinned American and global economic prosperity for more than 80 years. U.S. forces will continue to defend it.
It’s now up to the Iranians to keep insurers convinced that it’s too dangerous to shoot the gap and strangle the flow of oil out of the region that way.
Iran cannot “close” the Straight of Hormuz. It’s not a canal. It doesn’t have a gate.
What Iran can do is make it so dangerous that insurers won’t cover ships or make it so expensive that they won’t risk it.
But nothing stopping a ship from making a run. It ain’t…
— Brian Sullivan (@SullyCNBC) March 2, 2026
There are some interesting electronic gremlins being thrown into the mix in the area, as well. This area is not known for Bermuda triangle-style anomalies.
Chinese ships in the Strait of Hormuz are experiencing COMPLETE GPS signal loss..
— American AF 🇺🇸 (@iAnonPatriot) March 2, 2026
Now. All of this is going to affect oil and, ergo, gasoline prices, but you can thank ‘drill, baby, drill‘ for the fact that the US won’t be on its knees as we have been so many times before.
🚨 EXPLAINER: Where Gas prices at the pump are headed.
Get ready for higher gas prices at the pump – but not much higher for now.
Key points to understand:
⚡️The problem in the Strait of Hormuz is one of insurance: Insurers need higher risk premiums from shippers. That should… pic.twitter.com/kUKTSWUxUC
— ⚡️David Blackmon⚡️ (@EnergyAbsurdity) March 2, 2026
⚡️The problem in the Strait of Hormuz is one of insurance: Insurers need higher risk premiums from shippers. That should get worked out fairly quickly.
⚡️If that happens, impacts on US consumers will be modest – say, a 10% increase at the pump.
⚡️Tim Stewart at @US_OGA notes the US is insulated due to our strong domestic industry – “American Energy Dominance in action.”
⚡️The US imports very little crude from the Middle East, another mitigating factor.
⚡️Ample global supply of seaborn storage also helps.
⚡️Still, if the insurance problem lingers more than the next 7-10 days, prices could rise further.
Bottom line: Give a word of thanks to the roughnecks, landmen, engineers, geologists, lawyers, accountants, executives and service companies who make America’s oil and gas industry the dominant global powerhouse.
Without them, your energy costs would be shooting skywards today.
That is all.
That’s a projection of American power in itself.
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