The Iran war intensified as Washington and Tehran focused their attention on the Strait of Hormuz and showed little sign of easing their aerial campaigns.
Iran has reportedly begun laying mines in the crucial maritime trade route and UK authorities said three ships off Iran’s coast were hit by projectiles, while US forces reported destroying 16 Iranian mine-laying vessels.
Tehran has in effect established dominance over the waterway, closing it to all but its own naval traffic: Remarkably, Iran is exporting more oil through the Strait than before the war began.
In an effort to allay whipsawing energy markets, Western powers are considering an International Energy Agency proposal for the largest-ever release of oil reserves.