US and Iran exchange missile fire in Strait
Washington and Tehran exchanged threats over the Strait of Hormuz, following attacks on oil tankers in the area amid an atmosphere of uncertainty regarding the possibility of escalation between the two sides. The Iranian Revolutionary Guard issued warnings to ships in the Gulf amid escalating tensions, after exchanges of fire with the U.S. Navy on tankers. The tense military interactions continue to cause a slight decline in oil prices, as ambiguity persists over the prospects of escalating the conflict in the region.
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