Iran, US Exchange Fire as Strait of Hormuz Tensions Escalate

The U.S. military said Saturday that its forces struck three Iranian oil tankers after Iran's Islamic Revolutionary Guard Corps fired ballistic missiles at two U.S. Navy ships. One of the tankers was hit near Kharg Island, Iran's main oil export hub, while Iranian authorities said the crews of affected vessels were being evacuated and reported no casualties. Iran later said it had targeted three U.S.-linked vessels and three oil tankers it accused of using unauthorized routes through the Strait of Hormuz. The U.S. did not immediately confirm Iran's claim that it had struck an American vessel.

The exchange marks another escalation in a conflict that began with U.S. and Israeli strikes on Iran on Feb. 28. Fighting continued intermittently after a ceasefire announced in June, with negotiations later breaking down and military pressure increasingly focused on the Strait of Hormuz and Iran's ability to export oil. Kharg Island is particularly significant because Iran previously sent about 90% of its crude exports through the facility, while the Strait of Hormuz handled roughly one-fifth of the world's oil supply before the conflict. The renewed fighting has already contributed to higher oil prices, with Brent crude closing Friday at $96.28 a barrel, its highest level since July 24.