Strait of Hormuz disruptions send energy prices higher amid U.S.-Iran standoff

Global energy prices have surged following renewed disruptions in the Strait of Hormuz, where a Saudi crude tanker was halted after being struck by three projectiles. The vessel's crew successfully extinguished an onboard fire.

The incident coincides with a broader push by Iranian hardliners to leverage control over the strategic maritime corridor. Tehran is demanding full implementation of June's 14-point memorandum, seeking sanctions relief, an end to Iranian port blockades, and the unfreezing of foreign assets.

U.S. President Donald Trump described Iran as a "failed state" while maintaining that transit through the corridor remains open and threatening further hard-hitting actions. Meanwhile, Tehran rejected Washington's claims that recent U.S. strikes on Larak Island neutralized Iranian mine-laying efforts, with an Iranian military official dismissing the narrative as "pure fantasy".

Sources: ANSA, Corriere della Sera, Il Messaggero, La Repubblica