All 44 crew members involved in the tanker blasts which hit the Sea of Oman have been safely rescued by Iranian ship operators.
State media reports that 21 crew on board the Kokuka Courageous and 23 on the Front Altair had been evacuated to its southern shores.
The cause of the explosion is still unconfirmed, but the US Navy confirmed it received two distress calls.
Earlier, media reports said explosions had occurred on the two oil tankers, apparently as a result of attacks.
The incident comes a month after four oil tankers were attacked off the United Arab Emirates (UAE).
The UAE blamed an unnamed “state actor” for those attacks, which involved naval mines. The US said Iran was behind the attacks, an accusation Tehran denied.