U.S. and Iran Exchange Fire in Strait of Hormuz Amid Ceasefire Claims
The U.S. and Iran exchanged fire in the Strait of Hormuz, with each side accusing the other of initiating the attack, raising concerns over the stability of the critical energy chokepoint. Shell CEO Wael Sawan warned of a potential 1 billion barrel oil shortage, while U.S. President Donald Trump claimed the ceasefire remains in effect despite the escalation.
Topics: ceasefire oil market Strait of Hormuz U.S.-Iran tensions