US navy vessels collide near Iran

Two US navy vessels, including a nuclear-powered submarine, collided in one of the Middle East’s key oil routes today lightly injuring 15 sailors and causing oil prices to rise.

The collision in the strait of Hormuz, between Iran and the Arabian peninsula, occurred in darkness when the submarine was submerged. The craft, the USS Hartford, suffered no damage to its nuclear propulsion system, a spokesman for the 5th Fleet said.

In the first half of 2008, around 20% of all the oil traded globally passed through the strait of Hormuz. Some 17m barrels of oil passed through the strait each day in the period, accounting for 40% of all seaborne traded oil.

Guardian