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Cargo vessel hit by projectile in Strait of Hormuz amid rising US-Iran tensions

Market News
18 Aug 2026
CNBC
View Source
Bearish
Cargo vessel hit by projectile in Strait of Hormuz amid rising US-Iran tensions

A cargo vessel was struck by a projectile in the Strait of Hormuz, damaging its engine room and causing a crew casualty, highlighting ongoing risks in this key shipping route. Iranian military threats and the expiration of a ceasefire between the US and Iran have escalated tensions, with no immediate peace deal expected. Analysts predict only a partial recovery of traffic through the strait, keeping oil prices elevated as the standoff continues. The situation remains volatile, with potential for further disruptions to global oil supply.

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