Commodities
US and Iran Clash Again in Strait of Hormuz
The US and Iran have resumed fighting in the Strait of Hormuz, a crucial waterway for global oil and natural gas shipments. According to Iran, its forces struck an unmanned US vessel trying to enter the strait on Sunday.
The US military has denied this claim, labeling it as 'a total lie.'
This incident comes after a month of relative calm in the conflict between the two countries. The war began with US and Israeli attacks on Iran on February 28, but since a ceasefire agreement was announced in June, fighting has persisted.
The US has adopted a dual-prong approach to the conflict, responding militarily to attacks on the strait while going after foreign financial institutions that handle Iran's money.