Iran Mine Claims Drive Oil Surge as U.S. Adds Carrier

Iran’s Islamic Revolutionary Guard Corps said two oil tankers caught fire after hitting Iranian mines in Omani territorial waters while crossing the Strait of Hormuz, sending energy prices higher on Tuesday. The claim came as attacks on vessels continued and the IRGC reported downing a U.S. drone, while Washington prepared to send a third aircraft carrier to the Middle East.

Attacks on Shipping and Rising Prices

The IRGC said the tankers struck mines while attempting to cross the strait. Three other vessels had come under attack in recent days, and the IRGC also said it downed a U.S. drone. Shipping intelligence firm Kpler reported at least 18 vessels attacked over the past two weeks.

Brent crude climbed to $111.05 a barrel. U.S. crude topped $104 a barrel. The attacks and rising prices coincided with continuing diplomatic efforts, as Iran’s actions at sea and negotiations with Washington drew attention at the same time.

Pakistan’s army chief, Field Marshal Asim Munir, arrived in Tehran as the diplomatic efforts continued. Iranian Foreign Ministry spokesman Esmaeil Baghaei confirmed the visit and said the discussions would also address ongoing negotiations.

Sources familiar with the talks told the Qatari-owned newspaper Al-Araby Al-Jadeed that Pakistan and Qatar had offered a compromise proposal involving the release of $6 billion in Iranian funds frozen in Qatari banks. They said Iran had given preliminary consent, and the United States had approved the proposal.

Tehran’s Stated Calculations

Senior Iranian officials told Reuters that the country’s clerical establishment was determined not to hand Donald Trump a political victory before the U.S. midterm elections. One senior official said Tehran was preparing for renewed attacks, not an agreement with Washington.

Diplomats speaking to The Washington Post said Iran aimed to “punish” Trump politically by driving up energy prices. An Arab diplomat put it this way: “They’re obsessed. They think they can bring down a presidency.”

Regional Security and U.S. Deployment

Saudi Arabia has also faced repeated attacks by Iran-backed Houthis in Yemen. The strikes included attacks on Riyadh’s airport, where 18 people were killed this month. British Defense Secretary Wes Streeting said the Royal Air Force would send Typhoon fighter jets to help defend Saudi airspace, without striking inside Yemen.

Saudi Arabia postponed its flagship Future Investment Initiative conference, widely known as “Davos in the Desert,” until next year.

Fox News reported that the USS Theodore Roosevelt aircraft carrier was expected to reach the Middle East by the end of November, joining two other U.S. aircraft carriers already operating there. The deployment also includes additional Marine forces and is expected to bring approximately 10,000 more U.S. sailors and Marines to the region, strengthening Washington’s military presence in the Persian Gulf.