Iran and US Hit Tankers in Biggest Wave of Attacks on Shipping Since War Began
Iran said it attacked 10 ships near the Strait of Hormuz after the United States sank five Iranian oil tankers, in the biggest declared wave of tit-for-tat attacks on shipping since the war began. The attacks sent Brent crude above 100 dollars a barrel and American diesel prices to a record high. Iran also fired ballistic missiles at a base used by American forces in Jordan.
Why it matters: This escalation underscores the theme of energy security as attacks on shipping in the Strait of Hormuz directly threaten global oil supply and prices.