Mozambique-flagged LPG tanker attacked in Iranian waters, Indian crew safe

A Mozambique-flagged LPG tanker has reportedly been attacked in Iranian waters, according to a statement from the Indian embassy. The incident, part of the ongoing 2026 Strait of Hormuz crisis, involved a vessel carrying 28 Indian crew members, all of whom are reported safe. The attack occurred near the critical maritime chokepoint linking the Persian Gulf and the Gulf of Oman, amid heightened tensions between the U.S. and Iran. The situation has exacerbated concerns over security in the region, as maritime violence continues to disrupt commercial energy shipping. Key Takeaways The attack on the Mozambique-flagged tanker appears to contribute to escalating tensions in the Strait of Hormuz. Market pricing suggests a decreased likelihood of traffic normalization in the Strait by August 31, with odds recently dropping to 10.5% YES. Ongoing hostilities and maritime threats could further impact shipping activities and market expectations. What to Watch Observers will be monitoring any official statements from Iran or the U.S. that could influence the situation in the Strait. An Iranian Supreme Leader’s speech reaffirming the closure of the Strait or reports of U.S. military escalation m...