Iranian forces resumed missile strikes against commercial shipping in the Strait of Hormuz on Monday, Axios reported, marking an end to a brief pause in hostilities prompted by recent U.S.-Iran talks.
According to two U.S. officials cited by Axios, at least two commercial vessels suffered serious damage in the attacks, while there were no reported injuries among crew members.
Earlier, the U.K. Maritime Trade Operations agency noted that a tanker traveling south off the Omani coastline was hit by an unidentified object, resulting in a fire onboard. This incident occurred just after a week-long agreement between Washington and Tehran to halt attacks in the critical passageway.
Last week’s indirect negotiations between the U.S. and Iran held in Doha ended without any substantial progress on ensuring security in the region, and Axios reported that U.S. military retaliation against Iranian positions remains a possibility.
In energy markets, oil prices advanced slightly early Tuesday as traders weighed the restoration of oil supplies and future demand rather than focusing solely on recently diminished geopolitical tensions in the Middle East. Brent crude increased by 28 cents, reaching $72.29 per barrel, while West Texas Intermediate futures added 29 cents to $68.84 as of early morning trading—both reversing some of Monday’s declines.
Traders remain cautious, considering that the tenuous truce between the U.S. and Iran could easily unravel. U.S. President Donald Trump reiterated on Monday that the U.S. would either negotiate an agreement with Iran or pursue military solutions, as Iran continued to demonstrate resistance.
