Iran and the United States exchanged fresh military strikes on Tuesday, intensifying their confrontation over control of the Strait of Hormuz and pushing global oil prices to their highest level in four weeks.
Iran launched ballistic missiles at a US air base in Jordan, while American forces carried out a five-hour assault on Iranian targets, marking the third consecutive night of US strikes.
The latest escalation comes after Tehran announced on Saturday that it was closing the Strait of Hormuz, prompting President Donald Trump to reinstate a blockade of Iranian shipping and propose a 20 per cent security fee for vessels transiting the strategic waterway.
The renewed fighting has cast fresh doubt on the memorandum of understanding signed by Washington and Tehran last month, which had raised hopes of a lasting ceasefire after months of conflict that disrupted global energy markets.
Despite the latest hostilities, analysts believe both sides are still operating within limited boundaries as they seek to strengthen their negotiating positions without triggering a full-scale war.
“I doubt the two sides will return to all-out conflict, although the risk of miscalculation remains on both sides,” said Yezid Sayigh, a senior fellow at the Carnegie Middle East Center.
The conflict has become increasingly unpopular in the United States as higher fuel prices weigh on consumers ahead of November’s congressional elections.
Brent crude climbed five per cent to $87.49 a barrel on Tuesday, its highest level since June 12, reflecting growing concerns over oil supplies through the Gulf.
Iran’s Islamic Revolutionary Guard Corps (IRGC) said it had fired ballistic missiles at a US military base in Jordan.
Jordan’s armed forces said four missiles that entered its airspace were intercepted and destroyed.
Although the strike was smaller than previous attacks seen earlier in the conflict, it underscored the continued volatility across the region.
“We have returned to the level of escalation seen before the memorandum was signed a low-intensity conflict that is unlikely to produce a decisive victory for either side,” said Andreas Krieg, a senior lecturer at King’s College London’s School of Security Studies.
Iranian state media reported that US strikes hit several locations, including Bushehr and Choghadak, leaving at least four people injured.
Tensions have centred on the Strait of Hormuz since Iran declared it closed after accusing a commercial vessel of using an unauthorised route through the waterway.
President Trump announced on Monday that Washington was reinstating its blockade of Iranian shipping, reversing part of last month’s agreement. He also proposed imposing a 20 per cent fee on all cargo moving through the strait under US protection.
The US Navy-led Joint Maritime Information Center said the blockade would take effect at 2000 GMT on Tuesday.
Iran rejected Washington’s move, insisting it alone had authority over the strategic passage.
Foreign Minister Abbas Araqchi said Tehran would remain the “guardian” of the Strait of Hormuz “forever,” while dismissing Trump’s proposed transit fee.
“Twenty per cent is, of course, too much. We will be fair,” Araqchi wrote on X.
The United Nations’ shipping agency also rejected the proposal, saying there was no legal basis for mandatory tolls on international straits.
Before the conflict erupted, nearly 20 per cent of the world’s oil and gas shipments passed through the Strait of Hormuz each day, transporting more than 15 million barrels of fuel valued at over $1.2 billion.
If implemented, Trump’s proposed fee could generate an estimated $240 million daily.
The latest military exchange follows reports that Iranian missiles struck two Emirati oil tankers transiting the Strait of Hormuz.
The United Arab Emirates said one Indian sailor was killed and eight crew members were injured after the vessels came under attack.
Iran’s Revolutionary Guards later claimed responsibility for disabling two “offending” supertankers, accusing them of ignoring repeated warnings and switching off their navigation systems while attempting to pass through the waterway.
