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Cargo Vessel Comes Under Apparent Iranian Attack Near Oman, Crude Jumps, After IRGC Warned It Controls Hormuz Strait Summary:

• Iran tightens control over Hormuz: The IRGC says ships must obtain authorization to transit the strait or face enforcement action.
• Shipping disruptions emerge after increased flows: A tanker near Oman was reportedly attacked, and several vessels turned back after Iranian warnings, sending oil prices higher.
• Tehran seeks billions in transit fees: Iran wants to impose Hormuz passage charges that it says could generate up to $40 billion annually.
• Rubio rejects the plan: The U.S. says Gulf states offer "zero support" for Iranian tolls and warns they would undermine freedom of navigation.

//--> //--> //--> Strait of Hormuz traffic returns to normal by July 15?
Yes 39% · No 62%
View full market & trade on Polymarket

*  *  *

Tanker Attacked Off Oman Amid US-Iran Divergence Over Terms of Hormuz Reopening, Crude Jumps

A tanker appears to have come under (likely) Iranian attack close to the coast of Oman on Thursday. It seems that Iran is seeking to impose control, and its red lines as its military issues the following message: "Coordination with the IRGC Navy for passage through the Strait of Hormuz via Channel 16 is mandatory, and violator vessels will be dealt with."

Below is the initial UKMTO alert:

UKMTO WARNING 074-26 - ATTACK

Click here to view the full warning.⤵️ https://t.co/0hDEAb7xO9#MaritimeSecurity #MarSec pic.twitter.com/HlPzQDLBja

— UKMTO Operations Centre (@UK_MTO) June 25, 2026

Crude jumps, also as Bloomberg reports that already "At least three ships, including two oil supertankers, appeared to turn around while attempting to cross the Strait of Hormuz using a route that hugs Oman’s coastline."

Bloomberg continues: "It wasn’t immediately clear why the vessels turned around, but two maritime intelligence companies published broadcasts that purported to be from the Iranian navy instructing ships not to cross. Not all ships have turned around and some continued along the Oman route, according to tracking data compiled by Bloomberg."

This comes after there's been some optimism this week after the signing of the US-Iran MoU, as tanker traffic has clearly picked up. However, Tehran’s Persian Gulf Strait Authority has been insistent that transit can't happen without express permission, and as Tehran seems to impose steep tolls under its protocol.

*  *  *

Iran Seeking Beijing Approval for Toll Scheme

Despite Rubio's warning while meeting with GCC allies in Bahrain, Iran is planning to move forward on charging hefty fees for vessels wishing to transit the Strait of Hormuz under its protocol, which is to be enforced by the IRGC. What's more is that it's seeking Beijing's approval and help.

Iran’s chief negotiator and Parliament Speaker, Mohammad Bagher Ghalibaf, asserted during a prior visit to Oman this week: "Everyone needs to know that management of the strait will never return to the way it was before."

According to fresh reporting in The Wall Street Journal:

Iran is pushing to make billions of dollars from the Strait of Hormuz as the regime positions itself to manage the global oil artery it severed at the start of the war. 

The Islamic Republic estimates that charging for security, safety and environmental services in the strait would bring in $40 billion a year in revenue for states involved, according to officials familiar with the matter. The idea, if implemented, would bring Tehran cash flow and control that it didn’t command before the war. 

The regime is looking to models around the world, including the Dardanelles, the officials said, where Turkey charges ships a tax known as the gold franc for passage to and from the Aegean Sea through the international waterway.

Rubio has just complained that such a scheme would unleash "chaos" and would spread "like a contagion" to other global shipping chokepoints. He has asserted that Washington sees this as a red line and won't allow the precedent to be established.

On the China angle, crucially, "To get buy-in, Tehran is pitching the idea to the wider Middle East and as far afield as Beijing, according to Iranian officials. It wants its Persian Gulf neighbors to be part of the agreement and share the revenue," sources said.

Iran clearly feels itself in control of negotiations, and so is flexing its maximal demands, as it knows that Trump came to the table to avoid serious rupture in global oil as US strategic reserves have dwindled and Americans would revolve against his little "excursion" in Iran.

Tehran senses weakness? A softening in tone from the Trump administration: 

REPORTER: "You used to call them religious theocratic lunatics. Do you still believe that language applies to the leadership today?"

SEC. RUBIO: "Well, it's not that I believe it. It's the fact of the matter. I mean, the Iranian system is led by clerics, radical clerics. That's… pic.twitter.com/0FIGKdMlTq

— FOX & Friends (@foxandfriends) June 25, 2026 Rubio from Bahrain: 'Zero' Gulf Support from Gulf States for Tolls, Fees

Secretary of State Marco Rubio has made some fresh Thursday remarks in Manama, Bahrain after his meeting with Gulf Cooperation Council (GCC) foreign ministers. "We had a very productive meeting," he acknowledged.

The US top diplomat emphasized that "zero support" from Gulf countries for tolls or fees on the Strait of Hormuz, in contradiction to Iran's official stance (and possibly in coordination with Oman, which has provoked US wrath).

Pool/file image

Oman has remained ambiguous on the issue in its latest statements, no doubt not wishing to not further inflame Washington sentiment against the longtime southern Arab Gulf ally.

Oman, via its state news agency, has reaffirmed that it is ready to help restore maritime security and that it backs the MoU signed between the US and Tehran, also in accord with decisions made at the high-level Vance meeting in Switzerland at the start of the week. Rubio's main argument seemed to be the very bad precedent that a toll system extracted by Iran (and the IRGC) would set, warning that Iranian tolls on ships through Hormuz would only spread to other waterways, risking "total chaos".

"International waterways do not belong to any nation state. This is a foundational principle in the world today, without which the world would be in total chaos," he said at the GCC meeting. He added: 

"If in fact we accepted that you can charge money to use an international waterway because it happens to be near your territorial space, well then this will spread throughout the world like a contagion."

He stressed the the Trump administration is committed to a peace deal, but not "at any price". He explained: "While we want a deal, we don’t want a deal at any price. We want a deal that’s good, we want a deal that’s real, we want a deal that’s verifiable, and we want a deal that’s adhered to."

"We want to ensure... that there is no part of this deal that’s undertaken that in any way undermines the security, the stability, or the prosperity of any of our partners in the Gulf region," he said.

🇺🇸 — VID: Marco Rubio today in Bahrain on Iran:

“You can call it a toll, you can call it a fee, whatever you want to call it—it's a game of semantics.

The reality of it is that no country on earth has a right to charge for the use of international waterways.

And that will… pic.twitter.com/k4xo4hY2TY

— Belaaz News (@TheBelaaz) June 25, 2026

Rubio's Gulf tour has included the UAE, Kuwait and Bahrain, where he's given assurances that any broader US-Iran peace deal would not abandon Gulf allies' interests. Another notable statement from Rubio is his statement that a reconstruction fund for Iran was not discussed with Gulf countries. But this also remains high at the top of Tehran's wish list.

IRGC: Noncompliant Ships 'Will Be Dealt With'

As for the latest from Iran, the country's elite Revolutionary Guard Corps (IRGC) has warned against any crossings of the Strait of Hormuz without authorization, threatening that ships not complying "will be dealt with" as it criticized a new route through the waterway established under the auspices of Gulf countries and with UN coordination.

Rubio calling Iranian leadership, ‘religious theocratic lunatic’ - while his boss is begging for a negotiated solution, these sorts of lunacy counterproductive. pic.twitter.com/8BVV2mjiVr

— Ashok Swain (@ashoswai) June 25, 2026

"The only authorized route for passage through the Strait of Hormuz is the route announced by the Islamic Republic of Iran,” the IRGC said Thursday.

So clearly despite the MoU framework still holding and producing a temporary peace, which has even seen more ships flowing through the waterway, major contradictory issues remain.

According to new video of communications on Marine VHF channel 16 (the international hailing/calling channel for ships) from @_MartinKelly_, the Islamic Revolutionary Guard Corps-Navy (IRGC-N), also known as the 'Sepah Navy' has announced:

"Transiting the Strait of Hormuz is… pic.twitter.com/anngHDTDeo

— OSINTdefender (@sentdefender) June 25, 2026 More Developments

Some more of the latest via Al Jazeera:

• The US will not accept that Hormuz belongs to any nation state, Rubio said while meeting with Bahraini leaders in Manama. He also said that the US wants a deal that doesn’t undermine security and prosperity for itself nor its allies.
• Bahrain’s ⁠Foreign ⁠Minister Abdullatif bin Rashid Al ⁠Zayani welcomed Oman’s announcement of a corridor for the ‌safe passage of vessels through the Strait of Hormuz, as ⁠he chaired a GCC ⁠meeting during Rubio’s visit to the ‌country.
• A Lebanese military source told Al Jazeera that Israeli forces remain deployed in all the areas they recently occupied, making the statement after the Reuters news agency cited a US State Department official stating that Israel had withdrawn from parts of the area.
• There were reports of a drone strike in the front-line village of Kfar Tibnit on the outskirts of the city of Nabatieh in southern Lebanon, according to our correspondents on the ground.
• Some ⁠57 ⁠ships carrying an estimated 1,100 seafarers have transited ⁠the Strait of Hormuz since June 23 ⁠under a UN evacuation plan launched this week, data from the ‌UN’s shipping agency showed.

Tyler Durden Thu, 06/25/2026 - 15:55

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Venezuelan Quake Disaster: 45,000 People Reported Missing On Independent Monitoring Platform

Summary

• 45,000 Reported Missing On Independent Monitoring Platform
• US Phase One Of Humanitarian Response Begins
• Buildings collapsed in several districts of Caracas
• Venezuela declared a state of emergency after the earthquakes 
• Secretary of State Marco Rubio Deploys First Responders 
• Trump Says "U.S.A. stands ready, willing, and able to help" 
• USGS Says Quakes May Prompt "International Response" 
• USGS Fears Death Toll Ranging Between 10k - 100k 

Spanish-language news outlet UHN Plus reports: 

Independent monitoring platforms and missing persons search pages unofficially estimate between 39,000 and 40,000 reports of people unaccounted for following the devastating earthquake in Venezuela.

🇻🇪‼️ | Plataformas independientes de monitoreo y páginas de búsqueda de desaparecidos estiman de manera extraoficial entre 39.000 y 40.000 reportes de personas sin localizar tras el devastador terremoto en Venezuela. pic.twitter.com/zpmdaREJXl

— UHN Plus (@UHN_Plus) June 25, 2026

Nearly 45,000 reported missing on a website called "Reconectemos a cada familia" ...

Some of the missing include:

Phase One Of Humanitarian Response Begins 

Earlier, Secretary of State Marco Rubio provided reporters with an update on America's efforts to help Venezuelans after two massive earthquakes rocked the Caracas metro area and likely left thousands dead.

"We're already deploying search and rescue teams from Fairfax County, Virginia, and Los Angeles. There will be some others we'll add. That's their most immediate need right now, is search and rescue efforts- they have much of collapsed buildings. And so they'll need a lot of help in terms of digging through that," Rubio said.

He added, "We've already stood up our disaster response teams at the Department of State and our humanitarian efforts. It's something we did very well in Jamaica, after that storm, and it's something we're really prepared to do now."

Any U.S. government-led humanitarian response would likely include naval medical support, potentially involving hospital ships such as the USNS Comfort (T-AH-20) and USNS Mercy (T-AH-19). However, there is no official update on whether either vessel is currently ready for rapid deployment.

According to USNI News, US Navy deployments in the Caribbean Sea include:

A single ship from the Iwo Jima Amphibious Ready Group is operating in the Caribbean Sea after a 10-month deployment. USS Fort Lauderdale (LPD-28) remains in the region after USS Iwo Jima (LHD-7) and the 22nd Marine Expeditionary Unit returned in early June from deployment. The 24th MEU replaced the 22nd MEU as the "immediate crisis response force" and will be spread throughout the region instead of deploying with an Amphibious Ready Group, USNI News reported. Littoral Combat Ship USS Billings (LCS-15) is also operating in the Caribbean Sea. Billings is based at Naval Station Mayport, Fla.

Deployment Map:

Rubio's earlier statement that U.S. search-and-rescue teams are already deploying suggests the Trump administration is entering the first phase of a broader humanitarian mission.

Given the sheer scale of the disaster, larger U.S. assets - potentially including naval medical support, airlift capacity, and logistics units - may soon be headed to the Latin American country.

Stunning Aerial Footage Of Quake Damage 

WATCH: Aerial footage shows extensive damage across La Guaira, Venezuela. pic.twitter.com/I0OxESLs6C

— Scope Report (@ScopeReport_) June 25, 2026 Chevron Says Venezuelan Oil Operations Continue 

Chevron said its oil operations in Venezuela remain operational as of Thursday morning and all employees are accounted for after twin quakes overnight. 

"As a longtime employer and partner in Venezuela, we stand in solidarity with the country and its people during this difficult time," the oil/gas giant said in a statement Thursday, quoted by Bloomberg.

"We remain committed to supporting our employees and the communities surrounding our facilities and ensuring the continued safe operation of our assets."

The outlet noted:

Venezuela's key refining hub near the quake's epicenter in Paraguaná and the Jose export terminal in Anzoátegui are operating normally, according to a person with knowledge of the situation. There has been no impact on oil processing or loadings, the person said.

Trump Says US "Ready To Help"

The twin quakes that rocked the Caracas metro area overnight may result in a death toll ranging between 10,000 and 100,000, according to U.S. Geological Survey estimates.

USGS said, "Past red alerts have required a national or international response," adding, "Estimated economic losses are 2-20% of Venezuela's GDP."

Even before the quakes, Venezuela was already economically devastated under the socialist Maduro regime. The sheer magnitude of the disaster will likely prompt an international response led by Washington.

"The U.S.A. stands ready, willing, and able to help! I have instructed all agencies of our government to get ready to move quickly," President Trump wrote on Truth Social.

The president added, "We will be there for our new and great friends. Early reports are not good!!!"

U.S. Secretary of State Marco Rubio wrote on X, "America stands with the Venezuelan people during this difficult time, and at the direction of President Trump, the State Department is immediately deploying search-and-rescue teams, medical resources, and humanitarian assistance to Venezuela."

The United States extends our deepest condolences to the people of Venezuela following the devastating earthquakes.

Our hearts are with all those who have lost loved ones, those injured, and the courageous rescue workers working tirelessly in the aftermath.

America stands…

— Secretary Marco Rubio (@SecRubio) June 25, 2026

Acting President Delcy Rodriguez declared a state of emergency shortly after the quakes. She said that Simón Bolívar International Airport in Caracas was closed on Thursday due to damage.

Rodriguez said the number of deaths so far totals 164 people and that around 1,000 people were injured.

Dramatic footage:

⚡️Venezuela: Before and After a devastating earthquake pic.twitter.com/B6NbtjwWqR

— War Monitor (@WarMonitors) June 25, 2026

New footage shows devastation in La Guaira, Venezuela caused by powerful earthquakes. pic.twitter.com/9jr4B6n1RG

— AZ Intel (@AZ_Intel_) June 25, 2026

Utter devastation seen across the Northern Venezuelan coastal city of La Guaira, following tonight’s pair of major earthquakes, measuring 7.2 and 7.5 magnitude with an epicenter just to the west of Caracas. pic.twitter.com/BQv4YixUiB

— OSINTdefender (@sentdefender) June 25, 2026

The official death toll in Venezuela is 32. The US Geological Survey's own models estimate the real number will most likely reach the thousands, with a serious chance of passing 10,000 or maybe towards 100,000 as per some reports. The most important figure in this disaster is the…

— Shanaka Anslem Perera ⚡ (@shanaka86) June 25, 2026

Desplome de edificios en #Caracas #Venezuela con una intensidad de 7.5 pic.twitter.com/3rMmejf5My

— Neegann® (@NEEGANN) June 24, 2026

Latest headlines, courtesy of Bloomberg:

Devastating Earthquakes

• At least 164 people have died and 971 were injured after two powerful earthquakes struck Venezuela on Wednesday evening, according to Acting President Delcy Rodriguez on Thursday 

• The earthquakes measured 7.2 and 7.5 magnitude and struck less than a minute apart on Wednesday evening, with the epicenter in Yaracuy state west of Caracas 

• Around 30 aftershocks have been recorded following the two strongest quakes, with 20 aftershocks recorded as of Wednesday evening 

• The earthquakes toppled buildings, knocked down power lines, and devastated Caracas's main airport

Emergency Response

• Venezuela declared a state of emergency after the earthquakes 

• US Secretary of State Marco Rubio said the United States is immediately deploying search and rescue teams, medical resources, and humanitarian assistance to Venezuela

• Acting President Delcy Rodríguez spoke with US Secretary of State Marco Rubio by phone after the earthquakes 

Debt Restructuring Plans

• Venezuela is set to reveal a $240 billion debt pile, much higher than previously estimated market figures of $150 billion to $200 billion, as the country embarks on the biggest sovereign restructuring in history, according to unidentified people familiar with the country's plans 

• The Rodríguez administration is seeking a restructuring agreement with creditors before the end of the year and has retained Centerview Partners bne 

Political Developments

• The Inter-American Development Bank recognized Venezuela's Economy Vice President Calixto Ortega Sanchez as the new governor representing the country to the bank on Wednesday Bloomberg First Word 6/24

• Acting President Delcy Rodríguez said Venezuela was looking to strengthen cooperation with Colombia's incoming administration 

• Delcy Rodríguez has been crisscrossing Venezuela for months in what she describes as a pilgrimage, attempting to shed the baggage of a deeply unpopular government and position herself as its standard-bearer since Nicolás Maduro's ouster 

"Heavy Casualties" After Massive Twin Quakes Rock Venezuela, Topple Buildings; "International Response May Be Needed"

Twin earthquakes rocked Venezuela on Wednesday evening, collapsing entire apartment buildings across Caracas and leaving behind scenes of widespread devastation.

The USGS said the first quake registered a magnitude of 7.1, with an epicenter near Morón, about 104 miles west of Caracas, at a depth of 8 miles. One minute later, a similarly massive magnitude 7.5 quake struck nearby, roughly 10 miles southwest of Morón, at a depth of 6 miles. Remarkably, the dual quake was followed almost immediately across the world by a 6.9 magnitude temblor in northern Japan, which rattled buildings in Tokyo.

USGS issued a red-alert mass-casualty warning due to the combination of shallow depth, heavy population exposure, vulnerable buildings, and estimated losses large enough to require an international response.

"Red alert for shaking-related fatalities and economic losses. High casualties and extensive damage are probable and the disaster is likely widespread. Past red alerts have required a national or international response," USGS said, adding, "Estimated economic losses are 2-20% GDP of Venezuela."

In the Palos Grandes neighborhood in eastern Caracas, residents tried frantically to rescue people trapped under the debris of collapsed buildings, Bloomberg reports. Terrified families remained in the streets as the capital was hit by aftershocks. Venezuelan migrants in Colombia and elsewhere sought to reach relatives, but cellphone coverage was down in swathes of the country.

The early footage emerging from the devastation is dramatic:

Devastating scenes emerge from La Guaira, Venezuela, following a powerful earthquake that struck the region. pic.twitter.com/fBMIDWuabP

— Breaking911 (@Breaking911) June 24, 2026

Fishermen in the sea off the coast of La Guaira record the moments after the earthquake with dust covering large parts of the coast as a result of building collapses#Venezuela pic.twitter.com/D8KNwLkLDf

— CNW (@ConflictsW) June 25, 2026

Local news showed significant damage to the capital's airport, with parts of the roof collapsing and throwing up thick clouds of gray dust. 

Passengers panic and run for cover at Simón Bolívar International Airport in Maiquetía, Venezuela, as the terminal shakes and power flickers, resulting from a massive 7.5 magnitude earthquake off the coast of Caracas. pic.twitter.com/uWN4ZqFjOZ

— OSINTdefender (@sentdefender) June 24, 2026

Interior Minister Diosdado Cabello said in a national address that some houses and buildings have collapsed. He warned residents to stay outside due to the risk from aftershocks. Cabello said that states including Trujillo, Yaracuy, Carabobo, Miranda, Aragua and La Guaira were also affected.

Immense damage seen to buildings across Venezuela’s capital of Caracas, following what now appears to have been a “double-event” 7.2 and 7.5 magnitude earthquake back-to-back near the coast in Northern Venezuela, according to the U.S. Geological Survey (USGS). pic.twitter.com/XoG2jSJMf2

— OSINTdefender (@sentdefender) June 24, 2026

Authorities haven't yet published estimates of the number of dead or injured. There were no official reports of damage to the nation's oil infrastructure. Yet footage shows damage to one of Venezuela's key petrochemical plants. 

Así está la situación en Venezuela en la planta de Pequiven en Morón en el estado Carabobo luego del sismo pic.twitter.com/IFp1pGjQFm

— Jesús Medina Ezaine (@jesusmedinae) June 25, 2026

How rare were tonight's twin quakes? Well... 

Pretty rare earthquake activity tonight on Earth.

Both of these things happening within 2 hours of each other:

1 in 1,000 to 1,200 years

• A “doublet” earthquake in Venezuela (two quakes of similar magnitude in the exact same spot)
• A totally separate 6.9+ quake…

— Noah Bergren (@NbergWX) June 25, 2026

The closest historical comparison to the twin quakes this evening likely dates back to the March 26, 1812, Caracas earthquake sequence, which was described as twin destructive shocks within 30 minutes. That quake led to an estimated death toll of 15,000 to 20,000, while a USGS historical summary says it may have claimed about 30,000 lives.

BREAKING: Multiple structures have reportedly collapsed in Caracas, Venezuela, following a powerful earthquake that struck the region. pic.twitter.com/9KSN4srhwB

— Breaking911 (@Breaking911) June 24, 2026

Quake activity elsewhere...

That is not good. pic.twitter.com/3u8MsW2blB

— SpaceWeatherNews (@SunWeatherMan) June 24, 2026

And Japan. 

Second big quake today pic.twitter.com/wWKsq0Ioqx

— SpaceWeatherNews (@SunWeatherMan) June 24, 2026

There were no immediate reports of damage to Venezuela's oil facilities, according to people familiar with the situation. The country's refining hub in Paraguaná, 225 kilometers (140 miles) west of the epicenter, continued operations as usual. Work at the port of Jose complex and at the Puerto La Cruz refinery was unaffected.

The disaster will further strain the nation's crisis-hit economy. The country is reeling from one of the world's fastest inflation rates and rolling power outages. As such, the quake could open a window for President Trump to offer emergency aid and logistical support, potentially creating the first step toward a broader US-backed reconstruction effort in Venezuela.

*Developing...

Tyler Durden Thu, 06/25/2026 - 15:31

The Rays were oh so close.