The US military carried out strikes on targets in Iran on Tuesday following Iranian attacks on vessels traveling along the southern portions of the strait of Hormuz.
The US began "launching a series of powerful strikes against Iran", the Central Command, which oversees the Middle East-based US forces, said at 5:15pm ET. The US and Iran last exchanged fire on 27-28 June, also following Iranian attacks on vessels attempting to pass through Hormuz.
Iran attacked three vessels traveling along the southern portions of the strait of Hormuz in the last day, including an LNG tanker and a very large crude carrier. The UK Maritime Trade Organization (UKMTO) subsequently raised the threat level in the Mideast Gulf waterway to "severe".
The US and Iran signed an interim deal on 18 June that called for Hormuz to fully reopen to commercial traffic and for Tehran to receive sanctions relief. But the key terms of that deal are already unraveling well ahead of the 21 August deadline the two countries set to hash out final details of a peace agreement.
Traffic through Hormuz held steady at around 30pc of pre-war levels in the week before the latest flare up of hostilities.
The US administration earlier on Tuesday revoked an authorization allowing purchases of Iranian crude, refined products and petrochemicals.
Tehran has been keen to preserve its control over the strait of Hormuz and has been attacking ships crossing close to the coast of Oman, in a section of the strait where the US and the International Maritime Organization have encouraged transits.
President Donald Trump, who is in Ankara, Turkey, to attend a NATO summit, said on Tuesday, before the US attacks began, that "we have had some very good discussions" with Iran.
US benchmark WTI crude futures rose on Tuesday after the spate of Iranian attacks and were trading above $72/bl before the US began the latest round of attacks against Iran.
