Strait of Hormuz tensions trigger energy price spikes following strikes

Global energy markets saw sharp increases in crude oil and natural gas prices following renewed conflict in the Strait of Hormuz. Reports indicate a Saudi oil tanker was briefly halted and struck by three projectiles before crew members successfully put out an onboard fire.

U.S. President Donald Trump described Iran as a "failed state" and pledged further retaliation while maintaining that the maritime corridor remains operational. Meanwhile, officials in Tehran rejected American assertions that recent airstrikes on Larak Island disrupted Iranian minelaying attempts, dismissing Washington's account as "pure fantasy."

Hardline Iranian figures are reportedly leveraging control over the passage to demand full compliance with a 14-point memorandum signed in June, seeking an end to foreign sanctions and the release of frozen assets.

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