The conflict between the United States and Iran escalated again last week as the two countries exchanged attacks and U.S. forces struck three Iranian oil tankers, raising new concerns about the war’s effect on global energy supplies.
U.S. Central Command said Saturday that American forces struck three Iranian crude oil carriers after Iran’s Islamic Revolutionary Guard Corps launched ballistic missiles at U.S. Navy ships in the region. No American personnel were reported injured in the attacks.
Iran, meanwhile, said its forces had targeted U.S.-linked vessels and other ships it described as operating without authorization.
The attacks capped a week of renewed hostilities between the U.S. and Iran after a relative lull in fighting. Earlier in the week, the United States launched airstrikes against Iranian targets, prompting Tehran to retaliate.
The escalating Iran conflict has increasingly threatened commercial shipping around the Strait of Hormuz, one of the world’s most important energy corridors. Vessel traffic through the strait has fallen sharply as shipping companies weigh the risk of sending tankers through the region.
Oil markets have responded accordingly. Brent crude climbed above $90 a barrel during the week as traders reacted to renewed attacks and concerns that additional disruptions could further limit global oil supplies.
The conflict is also increasingly being felt by American consumers. Gasoline and diesel prices have climbed as supplies tighten, complicating the Trump administration’s efforts to reduce household energy costs.
Iranian officials warned Sunday that additional attacks would be met with increasingly forceful retaliation. Tehran also said it planned to establish a restricted area in the Strait of Hormuz.
Diplomatic efforts to stabilize the conflict have repeatedly stalled, leaving oil markets and governments worldwide watching for signs of further escalation.
“We will not hesitate to defend American forces, and if necessary, destroy Iran’s limited and exposed oil fleet,” said Adm. Brad Cooper, the head of U.S. Central Command.
