US Iran War: The fragile calm between Washington and Tehran has broken down completely, with the United States launching a third consecutive night of strikes across Iran. US Central Command confirmed the fresh wave of attacks, while Iranian state media reported explosions in the port city of Bandar Abbas and on the islands of Kish, Qeshm and Abu Musa. President Trump has notified Congress that “limited” military action has resumed, effectively ending the earlier ceasefire.
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Indian National Among the Casualties
The conflict has now claimed an Indian life. Iran struck two tankers, al-Bahiya and Mombasa, while they were sailing in Omani territorial waters in the Strait of Hormuz. According to the UAE defence ministry:
Six Indian nationals and two Ukrainian citizens were injured in the strikes. Iran’s Revolutionary Guard claimed the vessels had switched off their navigation systems and ignored warnings before attempting to pass through what it called a “mined route.”
Oil Markets React Sharply
Global energy markets have reacted swiftly to the renewed hostilities. Brent crude jumped more than 9% on the tanker strike news, while broader trading through the week has seen prices swing between $74 and nearly $85 a barrel as the situation evolves. On Tuesday, Brent crude climbed to around $84.84 a barrel, and WTI rose to $79.78, extending gains after a nearly 10% jump in the previous session. The rally follows Trump’s announcement that the US would impose a 20% shipping fee on cargo transiting Hormuz and reinstate a blockade on Iranian ports, a move he framed as the US acting as “guardian” of the vital waterway.
Analysts note that while prices remain well below the triple-digit peaks seen earlier in the conflict, the risk premium is likely to persist as long as tanker traffic through Hormuz, a route carrying roughly a fifth of the world’s oil and gas trade, stays disrupted.
