The United States and Iran are locked in a deepening conflict over the Strait of Hormuz, with each side asserting control over the critical waterway. This comes after an Iranian attack on a container ship on Sunday, which prompted new U.S. airstrikes. The U.S. military reported striking dozens of sites, including air defense systems, radar sites, and missile and drone equipment, in response to Iran's actions. Iran, in turn, reported attacks in several provinces, with at least two fatalities.
The ongoing hostilities threaten the interim peace deal reached last month, which was intended to lead to negotiations for a permanent end to the war and an agreement on Iran’s nuclear program. Instead, the situation has escalated, raising fears of a return to all-out conflict. Oil prices, which had reached nearly $120 a barrel at the height of the war, are now trading around $72.92, though they did jump nearly 5% on Monday before falling back.
Iran claims the right to manage traffic through the strait and potentially charge fees, citing the interim peace deal. However, the U.S. and other nations dispute this, citing international law on freedom of navigation. The U.S. military has attempted to establish an alternative southern route for vessels along the Omani coastline, which has angered Iran and led to repeated attacks on ships using this route. Traffic through the Oman route dropped to minimal levels over the weekend, indicating that operators are prioritizing security. Calls for the strait to be open, as it was before the war, have come from international bodies such as the European Union.
The U.S. military's strikes earlier on Sunday included hitting approximately 140 targets, such as missile and drone launch sites and ammunition dumps, a significantly heavier round of attacks compared to previous weeks. Iranian retaliatory attacks on Sunday extended to Bahrain, Kuwait, Qatar, Jordan, and Oman. Jordan's military reported shooting down four Iranian missiles with no casualties. U.S. President Donald Trump stated that the U.S. was "taking over the Strait" and mentioned that Iranian negotiators had suggested changes after an initial agreement was reached.
