US-Iran Strait of Hormuz conflict

The United States struck Iran's coastal defenses and missile sites on Wednesday after reimposing a naval blockade of its ports, escalating tensions following the collapse of a fragile truce reached in June. Iran retaliated by threatening to shut off regional energy exports and declared the Strait of Hormuz an inviolable red line, warning that if U.S. President Donald Trump attacks its infrastructure, it will strike all infrastructure across the Gulf region. The Strait of Hormuz, which handled about a fifth of daily global oil and LNG trade before the war, saw vessel traffic drop from 13 to 7 crossings on the first day of the blockade. Analysts suggest Iran may use its Houthi allies in Yemen to shut the Bab-el-Mandeb gateway, threatening a second vital energy artery. Oil prices eased slightly but remained near one-month highs, with Brent Crude at $84.37 and WTI at $79.42. Oxford Economics expects intermittent price rallies keeping average prices above $80 per barrel for several quarters. Separately, Ukraine's Security Service and navy struck two Russian shadow fleet tankers with naval drones in the Black Sea.