Two vessels took fire in the Strait of Hormuz on Wednesday as Iran launched what it described as its 37th wave of strikes against Gulf targets, pushing the UN Security Council toward a vote demanding Tehran halt attacks on Arab neighbors while oil prices climbed and financial markets absorbed warnings that global energy flows face prolonged disruption.
A container ship burned after an unknown projectile struck it roughly 25 nautical miles northwest of Ras Al-Khaimah in the United Arab Emirates, according to the UK Maritime Trade Operations.
Hours later, a bulk carrier was hit 50 nautical miles northwest of Dubai. Both crews were reported safe, though authorities had not identified what struck the vessels or who fired.
The incidents intensified concerns that fighting now in its twelfth day could choke traffic through the strait, a chokepoint for roughly one-fifth of global oil supplies. Brent crude has climbed about 20 percent since the conflict began, driving pump prices higher worldwide and rattling markets already braced for extended turbulence.
Amin Nasser, chief executive of Saudi Arabia’s Aramco, warned Tuesday that continued disruption to tanker traffic through the passage “will have a serious impact on the global economy.” His remarks came as the US military said it had destroyed 16 Iranian minelayers near the waterway, though President Donald Trump said no confirmed reports yet indicated Iran had actually begun mining operations—a scenario experts had flagged before the war started.
Iran’s Islamic Revolutionary Guard Corps said it fired four missiles at US military headquarters across the Middle East on Wednesday, including two targeting Camp Arifjan in Kuwait.
Kuwaiti authorities did not confirm strikes on the base, though the National Guard said it shot down eight drones heading for the country.
Qatar’s defense ministry reported intercepting a fresh missile barrage aimed at Doha, where explosions echoed across the capital Wednesday morning. “A little west of the city, we saw interceptions—those smoke clouds when the defensive weapons that Qatar has make contact with those incoming missiles,” Al Jazeera’s Zein Basravi reported from Doha. “These have become a common feature not just here, but across the GCC.”
Saudi Arabia destroyed five drones targeting the Shaybah oilfield in the Empty Quarter desert and two more in the Eastern Province. Bahrain suffered casualties when Iranian strikes wounded dozens including children in Sitra near Manama, with a fire breaking out at a facility in Ma’ameer after a drone hit. A separate strike on a residential building in the capital killed one woman and injured eight.
The UAE said it responded to incoming missiles and drone threats. Dubai’s media office reported two drones fell near Dubai International Airport, wounding four people.
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The Security Council was scheduled to vote later Wednesday on a resolution sponsored by the Gulf Cooperation Council demanding Iran cease attacks on member states. The measure reflects mounting frustration among Arab governments caught between their security partnerships with Washington and geographic proximity to Iran, which has sustained strikes across the region despite sustaining heavy losses from American and Israeli airstrikes.
Iran characterized Wednesday’s operations as part of a campaign to retaliate for the killing of Supreme Leader Ayatollah Ali Khamenei and ongoing attacks that have hit more than 130 Iranian cities. The Revolutionary Guards have said they possess supplies to maintain drone and missile operations for up to six months and plan to deploy more advanced systems in coming days.
How the Security Council vote will proceed remains uncertain given divisions among permanent members. Russia and China have grown closer to Tehran in recent years while maintaining economic interests in Gulf stability. The United States holds veto power but faces pressure to support Arab allies absorbing Iranian fire while also managing its own military operations against Iran.
Financial markets have struggled to price the conflict’s trajectory, with volatility spiking as traders weigh scenarios ranging from quick resolution to months of disruption.
Energy analysts have warned that extended closure of the Strait of Hormuz—even partial restriction of traffic—could trigger price shocks exceeding those seen during previous Middle East crises.
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Gulf states have activated air defense systems around the clock, intercepting missiles and drones while attempting to maintain normal economic activity. Airports remain open under heightened security, though some carriers have suspended flights or rerouted around the region. Shipping companies have begun calculating whether premiums for Hormuz transit justify the risk or whether alternate routes make more sense despite added time and cost.
The scale of Iranian attacks—37 waves over 12 days by Tehran’s count—suggests the campaign has settled into a pattern of sustained retaliation rather than isolated strikes. Whether Iran will escalate further or maintain current intensity depends partly on how much damage it continues absorbing from American and Israeli operations and partly on calculations about what level of pressure Gulf states can withstand before demanding their US partner scale back.
Trump has alternated between declaring the war nearly won and acknowledging it could continue for weeks. Israeli officials have provided conflicting timelines, with some suggesting operations will wrap up soon while others indicate preparation for prolonged engagement.
The vessel fires in the strait raised immediate questions about whether Iran had begun targeting commercial shipping directly or whether the strikes represented spillover from military operations. Previous threats from Tehran to close the waterway have typically involved mining, harassment by fast boats or seizures of tankers—tactics designed to disrupt traffic without triggering responses that could destroy Iran’s own naval capabilities.
If Iran has shifted to attacking vessels with missiles or drones, it marks an escalation that could draw stronger international condemnation and potentially broaden the coalition opposing it.
Shipping insurers have already raised premiums for Gulf transits, and additional attacks could make coverage prohibitively expensive or unavailable, effectively closing the route through market mechanisms even if Iran does not physically block it.
Gulf states hosting US military installations have walked a difficult line, allowing operations against Iran while absorbing retaliatory strikes that threaten their populations and infrastructure. The GCC resolution reflects their desire for international support in ending attacks without appearing to abandon neutrality or align completely with Washington’s campaign.