The US-Iran conflict has escalated, with the US launching air strikes on Greater Tunb Island, a strategic location in the Strait of Hormuz. This move comes as a response to Iran's attacks on ships passing through the strait, which is crucial for global energy supplies. The strikes, which lasted 90 minutes, targeted Iranian defense and missile sites, further degrading Iran's ability to attack commercial shipping. The US has intensified its air strike campaign, hitting an Iranian army barracks and killing at least seven troops. This has led to a cycle of back-and-forth strikes, with Iran threatening to halt energy exports from the Middle East. The US has imposed a blockade, which was later lifted after signing an interim deal to pause the conflict and negotiate over Iran's nuclear program. However, negotiations have stalled, and the region is at risk of all-out war. The Strait of Hormuz remains at the heart of the fighting, with the US threatening to reopen it by force, but experts warn that this would require a massive military presence. The conflict has already led to a surplus of oil keeping prices low, but analysts warn that tensions in the strait are shrinking the spare capacity, and the world will be in a weaker position when the next shock comes. Regional mediators are trying to get the US and Iran back to the negotiating table, but the situation remains volatile.
