US-Iran Tensions Escalate as Oil Prices Soar
Escalating tensions in the Gulf have led to a series of attacks between Iran and the US. In response to alleged ballistic missile attacks on a US warship, the US Central Command (CENTCOM) announced that it had sunk five Iranian oil tankers in the Gulf of Oman and near Kharg island. The tankers targeted were M/T Kaviz, M/T Charminar, M/T Horizon 1, M/T Riesco, and M/T Derya.
The US also claimed that Iran's Islamic Revolutionary Guard Corps (IRGC) had attempted to target a US warship twice over the past two days. The US military said it successfully evaded the attacks, but Iran has fired missiles at US forces stationed at the Al-Azraq base in Jordan. The IRGC claims to have destroyed hangars used by US fighter jets and caused significant damage to two destroyers.
The exchange of fire comes amid escalating tensions six months into the US and Israel's war on Iran. The Strait of Hormuz has been closed, and a naval blockade has been enforced on Iranian ports. Oil prices surged above $100 a barrel in early trading on Wednesday. The IRGC warned that it would strike US military installations across the region if Iranian tankers were targeted.