American allies Bahrain and Jordan said they were the targets of fresh Iranian attacks early Tuesday, after the U.S. launched the third straight night of U.S. strikes against Iran. President Donald Trump is following through on his threat to hit the country “hard” amid new Iranian attacks against vessels on the Strait of Hormuz.
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U.S. Central Command said the latest wave of strikes on Iran lasted five hours and targeted military installations across the country to “further degrade Iran’s ability to attack commercial shipping.”
Tehran also targeted two tankers associated with the United Arab Emirates traveling through the strait, killing one person and wounding eight others. The UAE threatened to retaliate.
Trump formally notified Congress that “military action” against Iran restarted last week. According to CBS News, the letter, dated July 10 and addressed to the Senate Pro Tempore Chuck Grassley, R-Iowa, said military action “commenced on July 7.”
The letter said the most recent strikes are “limited, measured, planned, and executed in a manner designed to minimize civilian casualties.”
Blockade back in place
Trump told Fox News on Monday that the U.S. is now going to “keep” the strait and “probably run it.”
“We’re knocking out all of their offensive capability,” he told reporters in the Oval Office Monday afternoon. “And we’re controlling the Straits, we’re putting the blockade back, and it’s a blockade not for anybody but Iran. In other words, anybody doing business with Iran can’t go through. Everyone else will be able to go through, so it’s very strong blockade. The blockade was probably more effective even than hitting them, but I think the combination is the thing that really does it.”
Trump also says the U.S. will impose a 20% fee on cargo ships passing through the Strait of Hormuz. Iran, meanwhile, says the waterway is now completely closed.
The U.N. maritime agency released a statement opposing the U.S. charging a toll to pass through the strait.
“The Council reaffirmed that passage through the Strait should remain free of any tolls and charges, in accordance with international law,” it said.
Impact on oil prices
The renewed blockade has sent oil prices surging once again. Brent crude, the global benchmark, soared to about $86 per barrel Tuesday morning, after prices settled around nine percent higher Monday when Trump said he’s reimpose the blockade.
West Texas Intermediate crude, the U.S. benchmark, also rose to around $80 a barrel.
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