The fight over the Strait of Hormuz is escalating again Monday, with both the U.S. and Iran now claiming control of one of the world’s most critical shipping routes.
As a result, oil prices were up more than 3% on Monday, sitting at around $73 a barrel.
It comes after a weekend of exchanged strikes between countries. Meanwhile, an Iranian delegation traveled to Oman Saturday to continue negotiations with the U.S.
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The latest round of strikes
The latest round of fighting began when Iran struck a container ship off the coast of Oman on Sunday.
The U.S. responded with a new wave of strikes, targeting air defenses, coastal radar sites, missile and drone systems, as well as small attack boats that the military says could threaten commercial shipping.
“The Commander in Chief has directed the strikes to hold Iranian forces accountable,” U.S. Central Command said in a statement.
Iranian state media says at least one person was killed and four others were wounded, confirming it struck Bahrain and Oman. Officials say they destroyed radar systems and targeted U.S. military facilities.
Both sides now insist they control the Strait of Hormuz, with the U.S. saying the waterway remains open to shipping, while Iran continues to claim it has effectively closed it.
The conflict is also spreading across the region.
Kuwait says its air defenses intercepted Iranian attacks overnight, Jordan’s military says it shot down four missiles, and Bahrain activated its air raid sirens, though officials say no new attacks have been confirmed there.
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