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U.S. Strikes Iran After Strait of Hormuz Attacks

A 7% spike in global oil prices followed renewed U.S. military strikes against Iran on Wednesday, as the collapse of an interim peace agreement triggered a volatile escalation. The move comes after Iranian forces targeted three cargo ships in the Strait of Hormuz, threatening the world’s most critical energy artery.

U.S. Strikes Iran After Strait of Hormuz Attacks

President Donald Trump authorized the operations to degrade Iran’s capacity to disrupt shipping in the waterway, which handles one-fifth of the global oil supply. The strikes serve as direct retaliation for Tuesday’s maritime attacks and subsequent Iranian assaults on U.S. military sites in Bahrain and Kuwait. While Tehran denies responsibility for the cargo vessel strikes, the maneuver reflects a calculated effort to gain leverage in stalled diplomatic talks.

Speaking at a NATO summit in Ankara, Trump dismissed Iran’s commitment to the June memorandum as dishonourable. Despite the breakdown of the ceasefire and the intensity of the current exchange, the administration maintains that a return to full-scale regional war remains unlikely. The future of the peace process, however, appears increasingly fragile as both nations trade fire along the Persian Gulf.

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