Commodities
IRGC Downed US Drone Over Strait of Hormuz Amid Escalating Tensions
The Islamic Revolutionary Guard Corps (IRGC) of Iran has reportedly downed a U.S. unmanned aerial vehicle (UAV), an MQ-1, over the Strait of Hormuz.
The incident occurred despite the ceasefire between the two nations, which was brokered after recent tensions escalated with Iranian missile and drone strikes against U.S. military facilities in the Persian Gulf region.
The Strait of Hormuz is a critical waterway for global energy supply chains, with approximately 20% of global oil supplies and around 25% of liquefied natural gas (LNG) exports passing through it.