00:00These dramatic images show an oil tanker engulfed in flames.
00:04One of two vessels targeted in the port of Basra.
00:07It's just one of a spate of attacks from Iran on commercial ships, as Tehran aims to
00:12disrupt the global economy in the hopes of gaining the upper hand in the conflict.
00:17The key shipping lane, the Strait of Hormuz, has been a major flashpoint.
00:21The US claims to have struck around 30 Iranian mine-laying vessels in the waterway.
00:27We're going to look very strongly at the Straits.
00:29The Straits are in great shape.
00:32We've knocked out all of their boats.
00:34They have some missiles, but not very many.
00:37I think we're in very good shape.
00:40But for now, the strait appears far from secure.
00:43On Wednesday, three vessels were hit in the waterway, including a Thai cargo ship.
00:49Projectiles caused a fire and damaged the engine room of the Maori Nari.
00:53Around a fifth of the global crude oil supply passes through the strait, and the disturbance
00:59has caused oil prices to spike.
01:01With Brent crude oil, the international standard, topping $100 a barrel on Thursday.
01:07The International Energy Agency has agreed to release a record 400 million barrels of
01:12oil to help rein in prices, with the US contributing the majority.
01:17President Trump authorised the Department of Energy to release 172 million barrels from
01:23the Strategic Petroleum Reserve, beginning next week.
01:28This will take approximately 120 days to deliver, based on planned discharge rates.
01:34Iran's Revolutionary Guard have warned that any ships wanting to pass through the strait
01:39of Hormuz will need their authorisation.
01:41This Thursday, Iran said that Indian vessels would be allowed to travel through the waterway.
01:46the United States'
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