Iran launched a drone strike on a key oil facility in Fujairah, United Arab Emirates, on Monday, wounding three Indian nationals and sparking a fire, according to UAE authorities. The attack marked the first such incident since a ceasefire in early April, as tensions in the Middle East escalate.
US President Donald Trump threatened to blow Iran 'off the face of the earth' if it attacks American vessels, as the US military launched 'Project Freedom' to reopen the Strait of Hormuz. US forces sank six Iranian boats targeting civilian ships during the operation, the military said.
Iran's military central command warned it would strike any US naval vessel approaching the strait and claimed to have hit a US frigate with two missiles. US Central Command denied the claim, stating no US ships were struck. Iranian Foreign Minister Abbas Araghchi said there was 'no military solution' to the crisis.
In Oman, two people were injured by an attack on a residential building in Bukha along the Strait of Hormuz coastline. The British military reported two cargo vessels on fire off the UAE, while a South Korean-operated vessel experienced an explosion and fire, with no casualties reported.
Japan received its first oil shipment from Russia since the Strait of Hormuz closure, as part of efforts to diversify energy sources. The Sakhalin-2 project crude arrived in Imabari, western Japan, according to reports. Japanese Prime Minister Sanae Takaichi said the oil supply squeeze was having an 'enormous impact' on the Asia-Pacific region.
Global stocks fell on Tuesday amid the spike in tensions, and the IMF warned that oil prices could hit $125 a barrel if the conflict continues into 2027. The UK and Saudi Arabia called for de-escalation, with British PM Keir Starmer urging Iran to engage in negotiations to ensure the ceasefire endures.
