US Strikes Five Iranian Oil Tankers Amid Escalating Conflict

The conflict between Iran and the United States is escalating, with attacks around the Strait of Hormuz and missile launches toward Jordan increasing risks for regional states, commercial shipping, and global energy markets.

The U.S. has targeted regime's revenue stream by hitting five Iranian oil tankers, four in the Gulf of Oman and one near Kharg Island, one of the main hubs for Iranian oil exports.

Iran's response seeks to reverse the equation, with maritime traffic becoming more dangerous and expensive if the United States attacks Iranian oil exports. Oil becomes a source of revenue, a target for attack, and a means of exerting pressure on the global economy.

The Jordanian military confirmed that 20 ballistic missiles were fired toward the kingdom, 18 were intercepted, and two fell in uninhabited areas with no casualties reported.