Hormuz Under Fire: Iran's Latest Attack Raises Global Oil Market Alarms

The Strait of Hormuz has been under fire again after Iran claimed it had attacked an unmanned American ship trying to enter the strait, a vital passage for global energy markets.

This latest development raises concerns that the conflict could further limit commercial shipping through the strait and continue to put pressure on global oil markets.

The US military has not confirmed the attack yet. However, the incident comes just a day after the US military said it had attacked three Iranian oil tankers in response to an Iranian missile strike on US Navy warships.

Rachel Ziemba, an adjunct senior fellow at the Center for a New American Security, told Al Jazeera that 'this is a reflection of continued conflict and exchange of fire. The supply deficits globally are persisting, and there is little end to these shortages.'