WATCH: Video shows huge fire after tanker explodes off the coast of Basra, Iraq

An explosion in the Persian Gulf off the coast of Basra, Iraq, killed at least one person and set two oil tankers on fire on Wednesday, with officials suspecting it was caused by an attack.Reuters reported that Iranian ships carrying explosives may have rammed the vessels, citing preliminary findings from an Iraqi-led investigation into the incident. Video of the incident showed that the two tankers were moored side by side when the explosion occurred, causing a fire that spread to the surrounding waters.According to CNN, the vessels involved were identified as the Maltese-flagged Zefyros and the Marshall Islands-flagged Safesea Vishnu. According to the New York Post, the ships may be carrying up to 400,000 barrels of Iraqi crude oil. .Farhan al Fartousi, general manager of the Iraqi Ports Company, told CNN that all 38 foreign crew members on board the damaged vessel had been evacuated following the “explosion.” Images from the scene showed flames spreading across the water, suggesting oil was leaking from the vessel.According to Al Jazeera, the incident occurred in Iraqi territorial waters at the port of Fao near Basra. The Safesea Vishnu is owned by US-based Safesea Transport Inc., while the Zefyros is owned by a Greek company. Safesea Transport did not immediately respond to a request for comment. The attack reportedly comes amid rising tensions in the region and disruption to global oil supply routes. Oil prices surged this week on concerns about shipping in the Strait of Hormuz. The Strait of Hormuz is a critical corridor through which approximately one-fifth of the world’s oil passes daily.Military operations and counterattacks related to the ongoing conflict with Iran have disrupted traffic in the strait, prompting some producers to cut output. Iran has also threatened to block oil tankers from passing through the strategic waterway.The U.S. responded by targeting several Iranian minelayers earlier this week, while President Donald Trump said he might release oil from the U.S. Strategic Petroleum Reserve to stabilize prices. Separately, the International Energy Agency said its 31 member countries planned to release a record 400 million barrels of oil from emergency stocks to offset supply disruptions.