Strait of Fire: Hormuz Tensions Escalate as Tanker Attack Ignites Regional Fears The latest incident in the ongoing standoff between Iran and the United States has sent shockwaves through the global oil market.
A tanker caught fire after being struck by an unknown projectile in the Strait of Hormuz, a critical waterway through which over 20% of the world's oil and natural gas passes each day.
This attack is part of a series of ominous developments that have taken place over the past week.