Iran Attacked a US-Protected Convoy – 41 Minutes Later, Their Largest Naval Base Was Gone.lh

The third tanker, the MT Global Fortune, escaped undamaged, and her captain later described watching the Bulkley engage from his bridge, likening it to a movie—except the explosions were real.

The economic impact was immediate, with oil prices spiking 23% in the first hour after news broke.

Insurance companies suspended coverage for Strait transits, and shipping companies rerouted vessels around the Cape of Good Hope, adding two weeks and millions of dollars to each voyage.

The Strait of Hormuz, through which 21% of the world’s oil flows, was effectively closed for commercial traffic.

While this was precisely what Iran had aimed for, the cost had been catastrophic.

Their fast attack boat fleet was decimated, and their ability to project power in the Strait was crippled for months, possibly years.