Iran's Revolutionary Guards said Tuesday that naval mines had prevented three tankers attempting to pass through the Strait of Hormuz using routes Tehran deemed unauthorized. They added that two of the "violating oil tankers" were set ablaze and halted due to the explosion of mines planted by the IRGC Navy in the southern part of the Strait. Brent crude futures gained 1.22% to $110.13 a barrel, while U.S. West Texas Intermediate crude rose 1.11% to $98.92 a barrel on Wednesday as traders assess Middle East developments.