Strait of Tensions: US Iran Escalation Tests Global Oil Markets The latest salvo in the ongoing conflict between the United States and Iran has brought the fragile balance of global oil markets to the brink once more.
On Saturday, a US aircraft carrier and destroyer reportedly evaded multiple Iranian missile attacks while patrolling the region, prompting the US military to strike three Iranian oil tankers in retaliation.
The strike marks a significant escalation in the six month conflict that began with US and Israeli attacks on Iran in February.