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According to the BBC:

Two American sailors were killed and five were injured when they tried to board one of the intercepted boats. A third US sailor died of his wounds on Sunday.

It was the first maritime attack on Iraqi oil installations since the March 2003 US-led invasion of Iraq, but onshore oil pipelines have been targeted repeatedly by saboteurs.

One official described the vessels as "suicide speedboats".

The US military says a team of investigators will try to establish the launching point of the attacks.

An eight-man coalition interception team was approaching one of the boats when it exploded, flipping the coalition boat and killing two crew members, said the US navy's Bahrain-based Fifth Fleet.

From Commander, Joint Forces Maritime Component
Commander/Commander, U.S. Naval Forces Central Command/Commander, U.S. 5th Fleet Public Affairs

MANAMA, Bahrain (NNS) -- Two U.S. Navy Sailors from a coalition boarding team were killed and four other crew members wounded April 24 as a result of three concurrent waterborne attacks on oil terminals located in the northern Arabian Gulf.

At approximately 5 p.m. (local) coalition naval personnel observed an unidentified dhow approaching the Khawr Al Amaya Oil Terminal (KAAOT) in the northern Arabian Gulf. Standard Maritime Interception Operations (MIO) procedures required the crew to board the dhow for inspection.

As the seven-member boarding team approached the dhow in a rigid hull inflatable boat (RHIB), the dhow exploded, flipping the RHIB and throwing the crew into the water, killing two and wounding four.

All crew members were recovered by other coalition naval forces in the area, and evacuated to a military hospital in Kuwait.

All names are being withheld pending notification of next of kin.

Approximately 20 minutes after the first dhow explosion, two unidentified small boats were observed approaching the Al Basrah Oil Terminal (ABOT). ABOT security forces immediately took action to intercept. Prior to reaching the terminal, the boats exploded.

Initial reports indicate no damage to either terminal.

Coalition forces captured both oil terminals during the first phase of Operation Iraqi Freedom last year in the effort to prevent environmental sabotage of the terminals by Iraqi forces.

Coalition maritime forces are operating under the command of Commander, U.S. Naval Forces Central Command.

For related news, visit the Commander, U.S. Naval Forces Central Command/ Commander, 5th Fleet Navy NewsStand page at www.news.navy.mil/local/cusnc.

I just heard FOX state that 3rd person died today, a USCG