Oil Prices Jump After Iranian Drone Strike Hits Kuwaiti Tanker

Oil prices surged aft an Iranian drone onslaught deed the afloat loaded Kuwaiti tanker Al Salmi adjacent Dubai, intensifying fears of proviso disruption successful the Gulf. Credit: Havariekommando / EPA via AMNA

Oil prices surged aboriginal Tuesday aft an Iranian drone onslaught deed the afloat loaded Kuwaiti tanker Al Salmi adjacent Dubai. By 3:40 a.m., Brent crude had risen 2.05% to $109.59 a barrel, portion U.S. benchmark West Texas Intermediate (WTI) gained 2.96% to $105.93.

As the league progressed, Brent extended its gains to $114.58 a barrel. A aboriginal Reuters planetary markets update enactment it astatine $115.50, underscoring however sharply the onslaught amplified fears of proviso disruption successful the Gulf.

#Kuwait Petroleum Corporation #KPC: Kuwaiti precise ample crude bearer "Al-Salmi" was straight attacked by Iranian forces portion positioned successful the anchorage country of #Dubai Port successful the #UAEhttps://t.co/iNEN0dM3L0#KUNA pic.twitter.com/i3srkSZ27c

— Kuwait News Agency – English Feed (@kuna_en) March 30, 2026

Kuwaiti tanker catches occurrence adjacent the Strait of Hormuz

The onslaught targeted the Al Salmi, a elephantine crude bearer from Kuwait. According to the archetypal maritime information alert, the onslaught deed the vas connected its starboard broadside portion it was sailing 31 nautical miles, oregon much than 57 kilometers, northwest of Dubai, adjacent the Strait of Hormuz.

The interaction sparked a occurrence connected board. Crew members remained safe, and officials reported nary contiguous casualties. Authorities besides said they had not detected immoderate biology harm successful the contiguous aftermath, though the standard of the incidental rapidly raised concerns due to the fact that of the ship’s cargo.

Fears of an lipid spill grow

Kuwait Petroleum Corporation said the Al Salmi was afloat loaded erstwhile the drone struck. The institution said the onslaught damaged the tanker and ignited a occurrence wrong the vessel, portion teams continued to measure the afloat grade of the damage.

Because the vessel was carrying a afloat crude cargo, the incidental besides fueled fears of a imaginable lipid spill successful surrounding waters, adjacent though officials had not confirmed immoderate leak successful the contiguous aftermath.

UKMTO WARNING 029-26

Click present to presumption the afloat warning.https://t.co/UGR5vLAKQi#MaritimeSecurity #Marsec pic.twitter.com/LyI3EV6kMf

— UKMTO Operations Centre (@UK_MTO) March 30, 2026

Oil prices leap arsenic Kuwaiti tanker onslaught heightens Gulf tensions

The onslaught has deepened anxiousness implicit the information of shipping lanes adjacent the Strait of Hormuz, 1 of the world’s astir important chokepoints for lipid exports. Any disruption successful oregon astir the country tin nonstop contiguous shockwaves done planetary crude markets.

Monday had already marked a large infinitesimal for traders, with WTI settling supra $100 a tube for the archetypal clip since the existent signifier of the determination warfare began connected February 28. Tuesday’s rally showed that investors present fearfulness nonstop attacks connected tankers and vigor infrastructure could trigger a much sustained, risk-driven ascent successful lipid prices.