Two cargo ships sink in Strait of Hormuz after attacks

The Singapore-registered container ship GFS Pride caught fire and sank on Tuesday after being struck while transiting the Strait of Hormuz. All 21 crew members were rescued, according to the Maritime and Port Authority of Singapore. Iranian state media claimed the vessel hit a mine on an unauthorized route, though experts cited by CNN assess a drone attack as more likely.

A second vessel, the Antigua and Barbuda-flagged merchant ship Cape Dao, also sank on Wednesday. It had been drifting since an initial projectile strike on September 23. One Indian crew member was killed in that incident, according to International Maritime Organization data.

“Iran would not reopen the vital waterway until the US accepts Tehran's terms, including lifting sanctions and releasing frozen Iranian funds.”

These are only the second and third vessels to sink in the Middle East since the Iran war began in February, per IMO figures. Attacks have surged since late September, with UKMTO logging nine incidents since Monday alone, including a drone strike on a tanker.

Oil flows through the chokepoint have collapsed. Only 4.147 million barrels transited the strait on Monday, less than a quarter of pre-war volumes, according to tracker Kpler. The disruption is driving up global oil prices and U.S. gasoline costs ahead of the midterm elections.

Iran's top negotiator Mohammad Bagher Ghalibaf has said Tehran will not reopen the waterway — which normally handles a quarter of global seaborne oil and LNG trade — until the U.S. lifts sanctions and releases frozen Iranian funds.