Iran strikes tankers in Strait of Hormuz

3 min read

Iran's Islamic Revolutionary Guard Corps said it struck two oil tankers attempting to transit the Strait of Hormuz under US aerial escort, halting those ships and sending four others to turn back, as the waterway has been almost completely closed since fighting resumed two weeks ago. The closures and reciprocal strikes, including a US retaliation that pushed crude past $90 a barrel, have driven energy prices higher, benefited major oil companies' profits and intensified political pressure in the United States, where President Trump convened a cabinet meeting as the midterm elections approach.

Strait nearly closed, driving oil prices above $90 a barrel