US Destroys Five Iranian Oil Tankers Amid Escalating Tensions

The US military has destroyed five Iranian crude oil tankers in retaliation for attacks on a US warship by Iran's Revolutionary Guard. The strikes were in response to two Iranian efforts to hit the warship with ballistic missiles over the past two days, according to U.S. Central Command.

The US is also imposing sanctions on additional elements of Iran's aviation industry, targeting more than two dozen commercial and private airlines as well as foreign cargo service providers. This move aims to isolate Tehran from its remaining trading partners and exert control over the Strait of Hormuz, where about one-fifth of the world's oil passes.

The rising energy prices are posing political problems for President Trump and his Republican Party ahead of the November midterm elections. A barrel of international standard Brent crude briefly climbed as high as $99.46 on Tuesday.