US-Iran Conflict Escalates as Military Strikes Resume in Strait of Hormuz

The United States and Iran exchanged military attacks on Monday for the first time in weeks, marking a sharp escalation after a period of relative calm. U.S. forces struck two launchers on Iran’s Larak Island that officials said were being used to deploy mines into the Strait of Hormuz, a critical global oil shipping route.

Iran Responds With Missile Strikes and Drone Attack

Iran retaliated by firing missiles toward U.S. military targets in Jordan, though reports indicate those missiles were intercepted before reaching their targets. Iranian state media also reported a drone attack on a UAE air base, which Tehran said was in response to casualties from the Larak Island strike. Iran’s foreign ministry stated that bases in Jordan had been used to support the U.S. attack and warned of further retaliation against any additional military action.

Strait of Hormuz Remains a Flashpoint

Despite U.S. claims that sea mines had been cleared from the strait, Iranian forces maintain the waterway remains closed without their permission. Shipping traffic through the strait has dropped sharply, with only a handful of vessels crossing daily as companies avoid the area following reports of a tanker being struck by mines.

Oil Prices Climb on Renewed Conflict

Oil prices jumped more than 2% following the exchange of attacks, with global benchmark crude and U.S. crude both posting gains as markets reacted to the heightened risk of supply disruption through one of the world’s most important energy corridors.