Kenneth Glad
Attacks near one of the world’s most important maritime chokepoints are sending shockwaves through energy markets and raising fears of wider disruption across the Middle East. As oil traders react to mounting risks in the Gulf, the Pentagon insists U.S. forces retain control of the situation despite escalating tensions with Iran.
Energy markets have been jolted after a string of attacks on commercial vessels moving through the Strait of Hormuz, a narrow corridor linking the Persian Gulf with the open ocean. The passage between Iran and Oman carries about one-fifth of the world’s seaborne oil shipments, making it one of the most strategically sensitive routes in global trade.
The Daily Mail reports that commercial tanker traffic in the area has slowed dramatically following several strikes attributed to Iran. In one incident, explosive boats hit two fuel tankers, igniting fires and killing a crew member.
Energy traders say even limited disruptions in the strait can quickly ripple through global markets because Gulf exporters rely heavily on the route to move crude to Europe and Asia.
Oil prices approached $100 per barrel on Friday, while U.S. gasoline prices climbed to roughly $3.60 per gallon, up from around $2.90 before the conflict began. In an effort to calm markets, the International Energy Agency, according to ABC News, announced the release of 400 million barrels from emergency reserves earlier this week.
Pentagon criticism
The growing economic impact formed the backdrop to a tense briefing in Washington, where U.S. Defense Secretary Pete Hegseth, according to the British newspaper, criticized media coverage of the conflict.
“Some in the press just can’t stop. Allow me to make a few suggestions. People look at the TV and they see banners, headlines – I used to be in that business, I know everything is written intentionally,” he said.
Hegseth argued that headlines describing the conflict as expanding misrepresented the situation.
“For example, a banner – ‘Mideast War Intensifies.’ What should the banner read instead? How about, ‘Iran increasingly desperate,’ because they are. Or more fake news from CNN. The sooner David Ellison takes over that network, the better.”
When asked how the United States planned to prevent Iranian attacks on shipping in the strait, Hegseth offered few details.
“We planned for it. We recognize it. Um, because ultimately, we want to do it sequentially in a way that makes the most sense for what we want to achieve,” he said.
He also said the U.S. military intended to unleash the “heaviest” wave of strikes yet against Iranian targets and claimed American operations had severely damaged Tehran’s missile production capability.
Conflict spreads
Beyond the naval confrontations, several developments across the region highlight the widening strain created by the confrontation.
U.S. Central Command confirmed that a KC-135 refueling aircraft crashed in Iraq, killing four American service members. Military officials said the aircraft went down in friendly airspace and that hostile fire was not involved.
Separately, a drone attack struck a French military base in Erbil, Iraq. French President Emmanuel Macron said one soldier died and several others were injured. “Their presence in Iraq is part of the strict framework of the fight against terrorism. The war in Iran cannot justify such attacks,” Macron said.
Another controversy has emerged over a deadly strike earlier in the campaign. A preliminary U.S. military investigation found that an American missile attack mistakenly hit an Iranian elementary school, killing 175 people, most of them children. The Daily Mail reported that investigators determined outdated intelligence data contributed to the targeting error.
The strike is being described as one of the most serious U.S. military errors in decades.
Sources: Daily Mail, ABC News
