The renewed military confrontation between Washington and Tehran has rattled global markets, with Iran’s decision to shut the Strait of Hormuz
The United States carried out fresh military strikes on Iranian targets after accusing Tehran of launching attacks on commercial vessels in the Strait of Hormuz, dramatically escalating tensions in the Middle East. In response, Iran announced the closure of the strategically vital waterway, raising fears of a wider regional conflict and fresh disruption to global energy supplies.
The strikes came hours after Iran allegedly targeted ships transiting the Strait of Hormuz, one of the world’s busiest oil shipping routes. Washington described its military action as a “proportionate response” aimed at safeguarding international maritime security.
US says strikes target Iranian military assets
According to US officials, American forces launched precision strikes against Iranian military installations linked to the attacks on commercial shipping. The Pentagon said the operation was intended to degrade Iran’s ability to threaten international navigation in the Gulf region.
President Donald Trump defended the operation, accusing Iran of violating previous understandings by attacking vessels during a period when diplomatic efforts were underway.
“We gave them space to conduct their internal affairs, but instead they attacked ships. We responded decisively,” Trump said while speaking during the NATO summit.
Iran shuts Strait of Hormuz
Following the US strikes, Iranian authorities declared the closure of the Strait of Hormuz, warning that no commercial shipping would be allowed to pass until further notice.
The narrow waterway handles nearly a fifth of the world’s seaborne oil exports, making any disruption a major concern for global energy markets. Several shipping companies have already begun rerouting vessels, while insurers are expected to raise premiums for ships operating in the region.
Global markets react
Oil prices surged after reports of the renewed military confrontation and Iran’s move to close the Strait of Hormuz. Analysts warned that a prolonged disruption could significantly impact fuel prices, inflation and global supply chains.
Several countries have urged restraint, calling on both Washington and Tehran to avoid further escalation that could destabilise the region.
Conflict enters dangerous new phase
The latest exchange of military action comes despite ongoing diplomatic contacts between the two sides, raising concerns that hopes of reviving negotiations may be fading.
Security experts warn that any prolonged closure of the Strait of Hormuz could have far-reaching consequences for the global economy, given its importance to international oil and gas trade.
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