The United States has launched over 80 strikes on Iranian military targets in retaliation for attacks on three ships in the Strait of Hormuz, escalating tensions between the two nations.

The strikes, conducted by US Central Command (CENTCOM), targeted Iranian defence systems, command networks, coastal radar sites, and Revolutionary Guard vessels.Oil prices surged by over 2% as the news broke, with concerns about the durability of the US-Iran agreement.Iran retaliated by striking Bahrain and accused the US of breaching their deal, warning of further retaliation.The US revoked a temporary sanctions waiver for Iranian oil, increasing pressure on Iran during ongoing negotiations.

British maritime agency UKMTO reported attacks on tankers near Oman, with Qatar blaming Iran for an 'unacceptable' attack on international shipping.The conflict has reignited fears over freedom of navigation and global energy supplies, with experts warning of potential escalations.The 14-point US-Iran memorandum, aimed at managing Hormuz traffic, faces challenges as both sides resist returning to pre-war arrangements.Qatar has taken a more active role in mediating, hosting indirect talks between Iran and the US.The incident highlights the fragile state of the US-Iran agreement and the risks of continued hostilities in the region.