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Iranian media report attacks on ships in Strait of Hormuz with explosions heard near coastal cities
Iranian media are reporting attacks on their ships in the Strait of Hormuz with loud explosions heard near cities along the waterway. The reports come even as President Trump said negotiations to reopen the Strait are proceeding nicely, raising questions about the stability of the diplomatic process.
Iranian media are reporting that ships in the Strait of Hormuz have come under attack, with loud explosions heard near cities located along the strategically vital waterway. The reports add a dangerous new dimension to the ongoing confrontation between Washington and Tehran over control of the world's most important oil shipping lane.
The attacks were reported even as US President Donald Trump posted on social media that negotiations to reopen the Strait of Hormuz are proceeding nicely. The sharp contrast between the diplomatic optimism from Washington and the reports of active hostilities on the ground raises serious questions about the stability of the negotiating process.
The Strait of Hormuz, through which approximately 20 percent of the world's oil supply passes, has been partially closed since Iran moved to restrict shipping in response to US military strikes earlier this year. The closure has sent energy prices soaring and disrupted global supply chains, with particularly severe impacts on oil-dependent economies.
Despite the reported attacks, broader market sentiment remained cautiously optimistic. Brent crude traded below 100 dollars per barrel as investors appeared to price in an eventual diplomatic resolution. Asian and US stock futures pointed higher, suggesting that markets are still betting on a deal rather than an escalation.
A large Iranian delegation including the central bank governor is currently in Doha, Qatar for discussions on frozen Iranian assets and Hormuz navigation rights. The parallel tracks of diplomacy and reported military action underscore the fragility of the situation and the risk that any miscalculation could derail negotiations and send oil prices sharply higher once again.