A Qatari liquefied natural gas carrier was struck by an unknown projectile while navigating the Strait of Hormuz on July 7, setting its engine room ablaze and sending a fresh shockwave through global energy markets. The Al Rekayyat, owned and operated by Nakilat, sustained damage to its port side roughly eight nautical miles east of Limah, Oman. All crew members were reported safe.
Maritime security sources confirmed that a Saudi crude oil tanker was also damaged in the incident. Oil prices ticked higher in the immediate aftermath.
The chokepoint that keeps energy traders up at night
The suspected attacker is Iran’s Islamic Revolutionary Guard Corps (IRGC), though formal attribution remains pending. A series of maritime incidents in June 2026 already prompted US military strikes on Iranian targets, escalating a cycle of provocation and response that now appears to be intensifying rather than cooling down.
More attacks mean higher insurance premiums for vessels transiting the strait. Higher premiums mean shipping companies either eat the cost, pass it to consumers, or reroute entirely, adding days and fuel costs to every cargo.
