Explosions were heard across Iran, according to state media, after the UAE said Iranian cruise missiles struck two oil tankers in the Strait of Hormuz, killing one crew member and wounding eight, amid a third night of US strikes.
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Key facts
- The UAE says Iranian cruise missiles hit two oil tankers in the Strait of Hormuz, killing one crew member and wounding eight.
- The US launched a third night of strikes on Iran.
- President Donald Trump announced a Hormuz blockade.
- Oil prices have risen to their highest point in the month since the US and Iran agreed a peace deal.
- Economists warn of possible interest rate consequences in Australia if the conflict is not resolved within a week.
Explosions were heard across Iran, according to state media reports cited by the Guardian, as tensions in the Middle East escalated sharply. The reports came after the United Arab Emirates said Iranian cruise missiles had struck two oil tankers in the Strait of Hormuz.
The UAE said the strikes on the two tankers killed one crew member and wounded eight others, according to the Guardian’s live coverage of the crisis. The Strait of Hormuz is one of the world’s most important shipping routes for oil and fuel.
The United States launched a third consecutive night of strikes on Iran, the Guardian reported. Alongside the military action, President Donald Trump announced a new maritime blockade of the Strait of Hormuz.
The renewed conflict marks a breakdown after the two countries had agreed a peace deal. The Guardian noted that the US strikes and Trump’s blockade announcement have lifted oil prices to their highest point in the month since that deal was reached.
Economists warned that resurgent oil and fuel prices could have wider economic consequences. According to the Guardian, they cautioned that a fourth interest rate rise in Australia this year could be cemented if Trump’s renewed conflict with Iran is not resolved within a week.
Why it matters
The Strait of Hormuz is a critical route for global oil shipments, so attacks there can push up fuel prices worldwide. The reported strikes, a US blockade and a third night of strikes signal a serious escalation with potential knock-on effects for energy costs and interest rates far beyond the region.
Frequently asked questions
What happened in the Strait of Hormuz?
According to the UAE, cited by the Guardian, Iranian cruise missiles hit two oil tankers in the Strait of Hormuz, killing one crew member and wounding eight.
What has the US done in response?
The Guardian reports the US launched a third night of strikes on Iran, and President Donald Trump announced a maritime blockade of the Strait of Hormuz.
How is this affecting oil prices and the economy?
The Guardian reports oil prices have risen to their highest point in the month since a US-Iran peace deal, and economists warn this could cement a fourth Australian interest rate rise this year if the conflict is not resolved within a week.
Timeline
- Explosions heard across Iran, state media reports, after UAE oil tankers hit in Hormuz strait – Middle East crisis live
The Guardian World: UAE says Iranian cruise missiles hit two oil tankers in strait, killing a crew member and wounding eight US launches third night of strikes on Iran as Trump announces Hormuz blockade Resurgent oil and fuel prices could cement a fourth interest rate rise in Australia this year if