Iran-US Conflict Escalates with Wave of Attacks on Shipping and Military Assets
A new wave of attacks has been reported in the Middle East, with Iran and the US engaging in tit-for-tat strikes on shipping and military assets. The Strait of Hormuz, a vital waterway for global oil supplies, has seen the largest number of attacks since the start of the six-month-old war.
The US announced that it had sunk five Iranian oil tankers overnight, releasing video footage of ships ablaze before they sank. Iran responded by firing ballistic missiles at a base used by US forces in Jordan, with 18 out of 20 missiles intercepted by air defenses.
The IRGC has declared an off-limits zone around the Strait of Hormuz and is using new, more capable missiles to attack US ships. The U.S. Secretary of State Marco Rubio stated that 'Iran continues to try to hit U.S. naval ships, and for every time they do that or try to do that, they're going to lose tankers.'
The attacks have sent oil prices surging, with Brent crude breaching $100 a barrel for the first time since July. The average retail price of diesel fuel in the United States has hit a fresh all-time high above $5.94 a gallon.