International Tanker Management, which operates the vessel, told the Associated Press that its 23 crew had been evacuated by the Hyundai Dubai vessel, which was nearby.
The Bahrain-based U.S. Navy Fifth Fleet said it was assisting the tankers after receiving distress calls following "reported attacks". Meanwhile, the United Kingdom Maritime Trade Operations, which is run by the British navy, put out an alert warning of an unspecified incident in the Gulf of Oman and urging mariners to exercise "extreme caution" in the area.
Details of the incident were not immediately clear, but one operator said it suspected its ship had been hit by a torpedo.
The US Fifth Fleet said: "We are aware of the reported attack on tankers in the Gulf of Oman".
The Gulf of Oman lies at the other end of the strategic Strait of Hormuz from the Gulf, part of a vital shipping lane through which at least 15 million barrels of crude oil and hundreds of millions of dollars of non-oil imports pass.
There was no immediate confirmation from authorities in Oman or the United Arab Emirates (UAE), in whose territorial waters four tankers were hit last month. He said the government has set up a task force and that the government has informed the shipping industry to use precautions.
Iran has denied being involved, but it comes as Iranian-backed rebels in Yemen have also launched missile and drone attacks on Saudi Arabia.
Saudi Arabia and the UAE have said attacks on oil assets in the Gulf pose a risk to global oil supplies and regional security.
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In its statement, BSM said its tanker "is about 70 nautical miles from Fujairah and about 14 nautical miles from the coast of Iran".
The Front Altair is owned by Norwegian company Frontline Ltd and is registered in the Marshall Islands.
Refinitiv Eikon ship tracking data showed the Front Altair, an Aframax vessel, was in waters between Oman and Iran, carrying its naphtha cargo for delivery in Taiwan this month.
Sources said crews from both vessels, which they had said had been struck in worldwide waters, had been safely evacuated. He did not say how the ships were attacked or who was suspected of being behind the assault. The injured man is being treated aboard the Coastal Ace vessel.
The Norwegian Maritime Authority said three explosions were reported on board the Norwegian-owned tanker Front Altair after it was "attacked" along with the Singapore-owned cargo carrier Kokuka Courageous.
The comments came during a one-on-one meeting capping Japanese Prime Minister Shinzo Abe's high-stakes visit in Tehran that sought to ease Iran-U.S. tensions, suggested the efforts had failed.
Iran's official news agency IRNA had previously reported that the Front Altair had sunk. Two oil tankers near the strategic Strait of Hormuz have been reportedly attacked.
The attacks the USA blamed on Iran in May occurred off the Emirati port of Fujairah, also on the Gulf of Oman, approaching the critical Strait of Hormuz, the narrow mouth of the Persian Gulf through which a third of all oil traded by sea passes.