New Strait of Hormuz attack threatens oil supplies

A ship in the Strait of Hormuz was damaged by an explosion caused by a bomb or shell, raising fears of an escalation in the region. The British Navy announced that the shell struck the vessel as it was crossing the strait, but the extent of the damage or the crew's condition remains unclear. This attack comes after Saudi Arabia shut down a strategic oil pipeline, amid rising tensions with Iran, which has increased the likelihood of higher global energy prices, especially after the Brent crude oil price exceeded $100 per barrel. No party has claimed responsibility for the attack, although Iranian officials have accused others, and there has been no official confirmation.

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