US and Iran Escalate Conflict in Strait of Hormuz

The US and Iran are embroiled in an escalating conflict that has seen attacks on both sides, including a claim by Iran that it struck a US ship in the Strait of Hormuz. However, the US military denies this, calling it a 'total lie'.

The purported attack comes after the US military said forces struck three Iranian oil tankers in response to Navy warships being targeted with ballistic missiles.

Experts have warned that the conflict is a dangerous escalation, following Iran's previous attacks on commercial shipping. The war began with US and Israeli attacks on Iran on February 28, but since a fragile ceasefire agreement was announced in June, fighting has persisted.

The US Energy Secretary Chris Wright said that on average, 9 million barrels of oil a day are getting through the strait, which should help to relieve pressure on energy prices. He also stated that with oil flowing through pipelines in the region, 'we're probably two-thirds or more of pre-conflict flows'.