US Fires on Oil Tanker in Hormuz as Iran Strikes US Bases

By Caleb Reed · 2026-07-16

US disables the Belma in the Arabian Gulf

US forces fired Hellfire missiles into the smokestack of the unladen Curacao-flagged oil tanker M/T Belma on 15 July 2026, disabling the vessel after it ignored multiple warnings and continued toward Iran's Kharg Island in defiance of the reimposed US naval blockade.verifiedVerified Source: dvidshub.net^[1] US Central Command confirmed the strike in an official statement, describing the Belma as non-compliant and the action as enforcement of blockade measures in the Arabian Gulf.^[1]

Kharg Island handles the bulk of Iran's crude oil export traffic. Targeting the smokestack rather than the hull is a deliberate tactic: it disables propulsion while keeping the vessel afloat and the crew alive, signalling intent without sinking a ship in a busy international waterway.

Iran hits supertankers and US bases

One day before the Belma strike, Iran's Islamic Revolutionary Guard Corps said its naval forces struck and disabled two supertankers in the Strait of Hormuz on 14 July 2026 after the vessels switched off their navigation systems and attempted to transit a mined corridor.verifiedVerified Source: tasnimnews.ir^[2] The IRGC Public Relations Office said the ships had been encouraged by the US to make the crossing.

The IRGC Public Relations Office said: "Two violating supertankers were deceived by the US, ignored repeated warnings from the Strait of Hormuz shipping security control center, switched off their navigation systems, and chose to pass through a mined corridor, endangering maritime traffic. The vessels were subsequently hit and disabled."^[2]

The supertanker strikes were not the IRGC's first move. The IRGC said its forces carried out missile and drone operations on 9 July against US bases in Kuwait (Camp Arifjan and Ali al-Salem) and Bahrain (Juffair and Sheikh Isa), calling it the first phase of a punitive response.^[3] US Central Command has not confirmed the extent of the damage.

Trump declares the US guardian of the strait

President Donald Trump posted on Truth Social on 13 July that the US would take control of Hormuz traffic. He wrote: "The U.S.A. will be, from this point forward, known as 'THE GUARDIAN OF THE HORMUZ STRAIT,' but as such, and as a matter of FAIRNESS, will be reimbursed, at the rate of 20% on all cargo shipped, for any and all costs necessary to do the job of providing safety and security to this very volatile section of the World."^[7]

International maritime law does not grant any single nation the right to levy transit tolls on a strait used for international navigation. The post drew immediate legal controversy, with no treaty or UN Security Council resolution cited as authority. Whether Washington can operationalise the toll or whether it functions primarily as political signalling remains an open question.

Oil market reaction: WTI above $80, Brent near $85

WTI crude futures closed at US$80.22 a barrel on 15 July 2026, extending a four-day rally of more than 11 per cent as the Hormuz confrontation escalated.verifiedVerified Source: ru.investing.com^[4] Brent crude spot prices had already averaged US$85 a barrel in June 2026, according to US Energy Information Administration data.^[5]

The rally reflects straightforward supply-risk pricing. Any sustained closure or disruption of Hormuz removes a critical volume of crude from global markets overnight, forcing buyers toward alternative supply routes that are longer and costlier. Traders do not need the strait to actually close to move prices; a credible threat is enough.

Why Hormuz matters to every oil-importing economy

The International Energy Agency estimated that about 20 million barrels of crude oil and oil products transit the Strait of Hormuz each day, equivalent to around 20 per cent of global oil consumption.^[6] No alternative route can absorb that volume without significant cost and delay. Saudi Arabia's East-West pipeline and the UAE's Habshan-Fujairah line offer partial bypass capacity, but neither can handle the full throughput currently moving through the 33-kilometre-wide chokepoint.

Japan, South Korea and China collectively import the majority of their crude through Hormuz. Australia, while a significant domestic gas producer, imports the refined fuel products its transport network depends on, making pump prices here directly sensitive to Arabian Gulf disruptions.

What it means for Australian motorists

Australian petrol prices track the Singapore Mogas 95 benchmark, which in turn tracks Brent crude with a short lag. A sustained Brent price above US$85 a barrel, compounded by a weaker Australian dollar, feeds directly into higher bowser prices within two to four weeks of the crude move. The four-day, 11-per-cent WTI rally that closed on 15 July 2026 has already priced in significant risk premium.^[4]

Further escalation, particularly any move by Iran to physically mine or blockade the strait's main navigation channels, would represent a qualitative step beyond the current tit-for-tat vessel strikes and base attacks. The IRGC's 9 July statement described its Kuwait and Bahrain strikes as only the first phase of its punitive response, leaving open what subsequent phases might involve.^[3]

This article is general news reporting, not financial or investment advice. Oil and fuel prices are volatile and any forecasts may not eventuate.

Caleb Reed

Caleb Reed covers breaking news and sport for Bushletter. Fast and verb-led, he writes with a news-wire cadence and no patience for PR spin.