US military eliminates 16 Iranian mine-laying vessels close to the Strait of Hormuz

US Forces Target Iranian Naval Vessels

According to a statement from the US Central Command, American military forces have destroyed several Iranian naval boats, including 16 minelayers that were operating close to the Strait of Hormuz, as reported by Reuters on Wednesday.

This development came after President Donald Trump announced that 10 "inactive" minelayers had been "completely destroyed" by US forces.

On Tuesday, President Trump warned that if Iran deploys mines and fails to remove them, it will face unprecedented consequences.

Impact on the Markets

As of now, West Texas Intermediate (WTI) crude oil prices have dropped by 1.33% for the day, trading at $83.73. This marks a pullback from the recent peak of $113.28, which was the highest level seen in over three years earlier this week.