
AI-generated summary
The current escalation follows US and Israeli attacks on Iran on February 28, which occurred more than six months ago. Iran has previously targeted US warships with ballistic missiles, which Centcom said were successfully evaded without harming American troops. The conflict involves Iran's Revolutionary Guards Corps using a shadow oil tanker network to fund regional proxies.
US forces struck five Iranian tankers in response to Tehran twice targeting an American warship over the past two days, US Central Command (Centcom) said.
Four Iranian oil tankers linked to Iran's Revolutionary Guards Corps (IRGC) in the Gulf of Oman were targeted, as well as another tanker near Kharg Island, a major oil terminal off Iran's Gulf coast, Centcom added.
Tehran responded by launching missiles at a US base in Jordan, though Jordan said that it had shot down 18 of the 20 Iranian missiles with its air defence systems.
Tit-for-tat strikes between the two countries have escalated in the past week, more than six months after the US and Israel launched attacks on Iran on 28 February.
Oil prices rose in early trading in Asia. Benchmark Brent crude was up by 1.5% at $99.41 (£73.39) a barrel, while US-traded oil was 1.6% higher at $94.55.
Two of the missiles fired by Iran towards Jordan fell in unpopulated areas, an official spokesperson for the Jordanian Armed Forces said.
Iran has warned of further retaliatory strikes, urging crews of US-linked tankers near ports in Kuwait and Bahrain to "immediately leave their vessels whether at anchor or at the ports because they will be targeted".
The latest round of escalation comes after Iran targeted a US warship with ballistic missiles, which Centcom said were "successfully evaded". It added that no American troops were harmed during the attacks.
In response, the US said that the five Iranian oil tankers it targeted were "part of a multi-billion-dollar shadow network that funds the IRGC and its regional proxies".
Kharg Island - where one Iranian tanker was attacked in the latest round of US strikes - hosts Iran's main terminal for exporting oil.
Some 90% of the country's crude oil passes through the island, transported through pipes from the mainland.
Pressure on oil prices has been exacerbated by wider regional instability.
Also on Tuesday, Yemen's Iran-backed Houthi movement attacked energy facilities and civilian infrastructure in Saudi Arabia, injuring 73 people, according to Saudi authorities.
The drone and missile attack caused fires at oil facilities and installations that led to a temporary halt in operations, Saudi Arabia's military and energy ministry said.
AI outlook — possibilities, not facts
Iran will carry out retaliatory strikes against US-linked oil tankers near Kuwait and Bahrain ports
Likely · Within days
Oil prices will remain elevated or increase further if tanker attacks continue in Gulf of Oman
Likely · Within weeks
Diplomatic efforts will be initiated to prevent further escalation between US and Iran
Possible · Within weeks

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