Strait of Hormuz: A Flashpoint Ignited, Again The latest skirmishes in the "little war" between the US and Iran have reignited fears of a broader conflict, with oil prices bearing the brunt of the escalation.
Two tankers were attacked on Monday evening, one South Korean owned and one Saudi flagged, as they transited the Strait of Hormuz.
The incident has heightened tensions, with President Trump hinting at further military action against Iran.