Hormuz Crisis Deepens as UAE Reports Another Tanker Struck
The United Arab Emirates accused Iran of striking another of its tankers in the Strait of Hormuz, reportedly the third Emirati vessel hit in under a week, sending shipping through the waterway to near three-month lows and pushing oil higher. President Trump said he would “hit Iran hard economically” and might soon declare the strait “US territory”. Iran rejected the claim but said it was close to a safe-shipping deal with Oman.
A week of attacks on tankers has all but paralysed traffic through the channel that normally carries a fifth of the world’s oil, and a reported oil slick reaching the Iranian coast adds an environmental hazard to the crisis. Washington is moving a fresh aircraft carrier into the region and Mr Trump’s rhetoric is sharpening, even as Iran signals, through talk of an Oman-brokered arrangement, that it may be seeking an off-ramp that saves face. The gap between the two tracks — escalating threats and quiet diplomacy — leaves the outcome deeply uncertain. For now the direction is up: fewer ships, higher insurance, dearer oil. The strain is already reaching motorists worldwide. Watch whether the Oman channel yields a deal or the confrontation tips into open conflict.