A container ship named GFS Pride sank in the Strait of Hormuz on Wednesday after being hit by an unknown projectile and catching fire, CNBC reported. The Maritime and Port Authority of Singapore stated that all 21 crew members were safely evacuated with no injuries, and condemned such attacks as "unprovoked, unjustifiable, and in violation of international law."

Iran's Revolutionary Guard Corps earlier claimed the ship exploded and sank after hitting a naval mine, but maritime security firm Marisks believes this aligns with Iran's "psychological warfare" operations aimed at creating panic, increasing uncertainty, and deterring commercial shipping.

In recent weeks, Iran has escalated attacks on commercial vessels in the Strait of Hormuz in an attempt to stifle the rebound in crude oil exports. The UK Maritime Trade Operations (UKMTO) reported that over 20 vessels have been attacked in and around the strait this month. Kpler data shows that crude oil exports through the Strait of Hormuz averaged 8.5 million barrels per day in the week ending October 12, nearly 40% below pre-war normal levels. Including pipelines to the Gulf of Oman and the Red Sea, total crude oil shipments from the region were 14 million barrels per day, about 20% below pre-war levels.