Hormuz Unrest Escalates: What's at Stake for Global Oil Markets? The Strait of Hormuz has become a flashpoint in the conflict between Iran and the United States after a series of commercial ship attacks.
The US Central Command launched retaliatory strikes on Iranian targets, including the Qeshm island, which has been a repeated target for US forces throughout the conflict.
Iran's Islamic Revolutionary Guard Corps is accused of attacking three oil tankers in the Strait over the past two days, drawing condemnation from Saudi Arabia and other nations.