US-Iran Clash Over Strait of Hormuz Escalates, Global Oil Prices Surge

Dubai: Tensions between the United States and Iran have escalated sharply as both countries exchanged fresh military strikes over control of the strategically important Strait of Hormuz, increasing concerns over regional stability and global energy supplies.

The latest escalation follows Iran’s announcement that it would close the Strait of Hormuz, one of the world’s most critical oil shipping routes. In response, both sides have launched military operations, further heightening fears of a broader conflict in the Middle East.

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According to reports, explosions were heard in Bushehr and Choghadak in Iran after U.S. forces targeted military installations, including coastal defence systems, missile launch sites, and drone facilities. Iranian officials said at least four people were injured in the strikes.

Iran, meanwhile, reportedly launched ballistic missiles toward U.S. military bases in Jordan. Jordan’s armed forces said several incoming missiles were intercepted before reaching their targets. Iran also reportedly targeted Bahrain, home to the U.S. Navy’s Fifth Fleet, prompting emergency sirens and security alerts across the island nation.

The growing conflict has unsettled global energy markets. Brent crude oil prices climbed by nearly 5%, reaching $87.49 per barrel, their highest level in four weeks, amid concerns that disruptions to shipping through the Strait of Hormuz could significantly impact global oil supplies.

In a separate development, U.S. President Donald Trump appeared to soften his earlier remarks regarding a proposed 20% tariff related to trade through the Strait of Hormuz. In a social media post, Trump said that following discussions with Middle Eastern countries, the United States would instead focus on imposing a 20% reciprocal tariff on trade and investment agreements involving Gulf nations.

The latest developments have raised international concerns about the possibility of a prolonged military confrontation, with analysts warning that any disruption in the Strait of Hormuz could have significant consequences for global trade, energy security, and inflation.