UAE says Iranian missiles struck oil tankers in Strait of Hormuz, one sailor killed
XLE•Heightened tensions in the Gulf
The latest incidents in the waterway come after weeks of heightened tensions since the war broke out on February 28, when the U.S. and Israel launched attacks on Iran.
The U.S. military carried out a third consecutive night of strikes against Iran on Monday as President Donald Trump reinstated a blockade of Iranian shipping and proposed charging a 20% fee to guard the Strait of Hormuz.
Iran's top joint military command said the U.S. had no role in determining the future of the waterway and would not be allowed to intervene.
The conflict has destabilised the Gulf and spread across the region, with Iran attacking U.S. bases in several countries. It has also thrown into question an interim U.S.-Iranian agreement signed last month to reopen the strait and halt hostilities.
Before the conflict began in February, around a fifth of the world's oil and gas traffic passed through Hormuz daily, delivering more than 15 million barrels of fuel to global markets worth at least $1.2 billion.




