Dubai, United Arab Emirates. A fragile Middle East truce appeared in jeopardy on Tuesday after the United States and Iran launched new attacks while contesting control of the Strait of Hormuz. The waterway has been virtually closed since late February, disrupting commodity flows and pushing up prices.
U.S. reports strikes and escorted transits
The U.S. military said on Monday it destroyed six Iranian small boats, as well as cruise missiles and drones, after President Donald Trump sent the navy to escort stranded tankers through the strait in a campaign he called “Project Freedom.”
The U.S. military said two U.S. merchant ships made it through the strait, without saying when, with the support of Navy guided-missile destroyers.
Maersk said the Alliance Fairfax, a U.S.-flagged ship, exited the Gulf via the Strait of Hormuz accompanied by the U.S. military on Monday.
Iran accuses U.S. and allies of ceasefire breaches
Iran’s parliament speaker, Mohammad Baqer Qalibaf, said in a social media post on Tuesday that the security of shipping and energy transit had been threatened by breaches of the four-week-old ceasefire by the U.S. and its allies.
Iran’s Islamic Revolutionary Guard Corps has effectively closed the narrow waterway under threat of mines, drones, missiles and gunboats. The U.S. has responded with a blockade of Iranian ports.
Iran denied that any crossings had taken place.
Explosions reported and port fire in the UAE
Several merchant ships in the Gulf reported explosions or fires on Monday, and an oil port in the United Arab Emirates, which hosts a large U.S. military base, was set ablaze by Iranian missiles.
The strait is a vital thoroughfare for global supplies of oil, fertiliser and other commodities that has been virtually closed since the U.S. and Israel began attacks on Iran on February 28.
Diplomacy and conflicting accounts of casualties
Iranian Foreign Minister Abbas Araqchi said Monday’s events showed there was no military solution to the crisis. He said peace talks were progressing with Pakistan’s mediation, and warned the U.S. and the UAE against being drawn into a “quagmire.”
The commander of U.S. forces in the region said his fleet had destroyed six small Iranian boats, which Iran also denied. Iranian media quoted a military commander as saying U.S. forces targeted civilian boats, killing five civilians.
What impact do you expect the Strait of Hormuz disruptions to have on global commodity prices?
