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Ship hit by unknown projectile while leaving Strait of Hormuz

An oil tanker was struck by an unknown projectile off the coast of Oman, sustaining damage to its engine room and leaving the vessel not under command, according to the UK Maritime Trade Operations. Crew are reported safe with no environmental impact, though one report mentions a crew member casualty. The incident occurs amid heightened US-Iran tensions and reduced shipping traffic through the Strait of Hormuz.

2 outlets · 2 articles Aug 18

Rising oil, US yields add to rupee pressure after RBI move

The rupee rose 7 paise to 95.64 against the US dollar in early trade on Monday, supported by a softer dollar, but later pared gains to settle 3 paise lower at 95.74 amid rising Brent crude, importer demand, and cautious sentiment over impending US sanctions on Iran. The Reserve Bank of India likely intervened to support the currency, while its decision to shorten the foreign-currency deposit swap window surprised bankers and added to the rupee's vulnerabilities.

5 outlets · 8 articles Aug 18