US Strikes as Iran Blocks Hormuz

The United States has launched a fresh wave of airstrikes after a Cyprus‑flagged vessel was hit while transiting the Strait of Hormuz, a vital artery for global oil shipments. Iran responded by sealing the narrow waterway, halting commercial traffic and raising the spectre of a supply shock. Washington says the strikes target Iranian military sites linked to the attack, while Tehran warns of further closures if the US continues its campaign. The escalation underscores how quickly a regional dispute can ripple through world markets, prompting insurers, traders and governments to reassess risk in real time.

The incident threatens oil flow, raises shipping costs and could spark wider geopolitical conflict.

Around 20% of the world’s oil passes through Hormuz; any blockage can lift prices, strain economies and test the US‑Iran deterrence balance, potentially pulling in regional allies and complicating diplomatic efforts to restore safe passage.