At least seven oil tankers have been struck in and beyond the Persian Gulf since Tuesday evening local time, as the United States and Iran step up tanker attacks in what could mark a dangerous new phase in the war.

The escalation led global oil prices to rise briefly above $100 per barrel for the first time since July. Brent crude, the global oil benchmark, rose 2.3% before falling back slightly.

Late Tuesday, the US military struck five Iranian tankers, sinking one, after Iran fired ballistic missiles at a US Navy warship.

Four crude oil carriers in the Gulf of Oman and one near Kharg Island – a hub for Iranian oil exports in the Persian Gulf – were struck, US Central Command (CENTCOM) said.

One of the ships, identified as the M/T Riesco, is seen on fire and sinking in the Gulf of Oman in a video posted to X by the military. US forces instructed the crews of the vessels they targeted to abandon ship prior to striking, CENTCOM said.