Fresh fighting between the United States and Iran has reignited fears over global energy security after a fragile ceasefire collapsed and hostilities resumed in the strategically vital Strait of Hormuz.
The narrow waterway, through which a significant portion of the world’s oil supply passes, has become the latest flashpoint in the conflict after Iran reportedly attacked several commercial vessels, prompting retaliatory US military strikes.
The renewed violence has sent oil prices soaring, with crude rising by five per cent amid concerns that prolonged instability could disrupt international shipping and global energy markets.
Iran maintains that it has the right to regulate traffic through the Strait of Hormuz, insisting that vessels pay transit fees and warning that ships failing to comply with its designated shipping routes could be targeted.
According to reports, Iranian forces struck at least three commercial vessels in recent days. The United States responded by launching strikes against more than 80 Iranian military targets, including air defence systems, coastal radar installations and Islamic Revolutionary Guard Corps (IRGC) naval assets.
US Central Command (CENTCOM) said the operation was intended to weaken Iran’s ability to threaten international shipping through one of the world’s busiest maritime trade routes.
Iran retaliated by launching attacks on US military facilities in Kuwait and Bahrain, while state media reported explosions across several coastal cities, including Bandar Abbas, Bushehr, Sirik and Qeshm Island.
The violence has raised concerns for thousands of seafarers operating in the Gulf.
The International Maritime Organisation says nearly 6,000 sailors remain stranded in the region as shipping companies reassess the security risks of transiting the Strait of Hormuz.
Oman, which borders the strategic waterway, condemned attacks on commercial shipping and military targets in neighbouring Gulf states, while continuing diplomatic efforts to preserve its role as a neutral mediator.
The latest escalation has also placed renewed strain on last month’s memorandum of understanding between Washington and Tehran, which temporarily reduced hostilities after months of conflict.
Speaking at the NATO summit in Turkey, US President Donald Trump said he no longer considered the ceasefire to be in effect but indicated that diplomatic channels would remain open.
Despite the renewed fighting, analysts believe neither side is eager to return to full-scale war.
Ali Vaez, Iran Project Director at the International Crisis Group, said both Washington and Tehran remain engaged in a high-risk negotiation, using military pressure to settle unresolved issues left ambiguous by last month’s agreement.
He warned that a broader conflict would carry enormous economic and military consequences for both countries, making a negotiated settlement the more likely long-term outcome, despite the latest escalation.