US destroyed 10 inactive 'mine laying boats and/or ships', claims Trump

US President Donald Trump took to social network Truth Social early on Wednesday to claim that American forces have "hit" and "completely destroyed" 10 what he described as "inactive mine laying boards and/or ships".

The American president's post also hinted at the possibility that more such strikes will follow.

The action, he wrote, was carried out "within the last few hours".

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His social media post came briefly 13 minutes after he warned, using the same platform, that if Iran had laid mines in the Strait of Hormuz, they must be removed immediately. He also noted that Iran's failure to do this would trigger severe military consequences.

"If Iran has put out any mines in the Hormuz Strait, and we have no reports of them doing so, we want them removed, IMMEDIATELY! If for any reason mines were placed, and they are not removed forthwith, the Military consequences to Iran will be at a level never seen before," wrote Trump in the earlier post.

He also threatened to use advanced technology and missile capabilities to target the said vessels in the region, which is a crucial waterway that one-fifth of the world's oil and gas supplies flow through.

Middle East Crisis | All eyes on Strait of Hormuz and wild swings in crude oil

With the Middle East conflict -- which began with joint US-Israel strikes against Iran on February 28 that killed its Supreme Leader -- now approaching the end of its second week, disruptions across the Strait of Hormuz are being closely tracked by investors and analysts for market cues.

The passage links the Persian Gulf with the Gulf of Oman and the Arabian Sea. Iran's retaliatory action has effectively blocked the vital shipping lane through threats, attacks on vessels and mine-laying, according to foreign media reports.

There has been a significant drop in ship traffic through the waterway, with supplies feared impacted in several parts of the world, including India.

Brent crude -- a global oil rate benchmark -- was last seen trading in the $86-92 a barrel range on Wednesday, after hitting a nearly four-year high of $119.5 a barrel this week.

Volatility in crude oil rates cause inflationary pressure while denting economic activity in markets like India, which meets more than four-fifths of its oil demand through imports.

ALSO READ: Crude Oil Volatility Explained: Can prices cross $100 again amid Middle East tensions? Anil Singhvi breaks it down

India's take on energy shortage fears

The Union government has assured the public that there are no shortages of petroleum products in the country due to the situation in the Strait of Hormuz.
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Union Minister Piyush Goyal has said that there is "absolutely no shortage of fuel" and that the government is closely monitoring the situation. Petroleum Minister Hardeep Singh Puri has emphasised continued energy imports via multiple routes and partners.
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Meanwhile, the Centre has directed oil refineries to boost LPG production by 10 per cent, extend refill cycles to 25 days to curb hoarding and expand oil sourcing from 27-40 countries.