"Attempting to disrupt oil exports," the Iranian military takes action!
```
The Iran-US conflict has suddenly escalated near the Strait of Hormuz, and efforts by both sides to negotiate a ceasefire are facing a severe test.
According to CCTV News, on May 8 local time, Iran's Islamic Republic Navy Special Forces seized the oil tanker "Ocean Koi" during a special operation, which was "attempting to interfere with Iran's oil exports and national interests."
Meanwhile, according to Xinhua News Agency, two radio recordings provided by the crew of stranded ships near the Strait of Hormuz on May 8 show that two oil tankers were attacked and called for assistance. Based on the ship names reported in the recordings, "SEA STAR III" and "SEVDA," both vessels are Iranian tankers. Analysts pointed out that the recordings may be Iranian personnel reporting the situation of the attack and calling for nearby Iranian forces to assist. Brent crude oil futures responded by rising, returning to about $100 per barrel.
Trump previously issued a tough warning, stating that if Iran refuses to sign the agreement, the US will launch "more fierce and violent" strikes. Efforts to ease the situation continue. According to Xinhua, Iran is expected to respond today to the US proposed plan. US stock futures edged higher, major indexes are expected to hit record highs, but European and Asian benchmarks generally fell.
Seizing the oil tanker: Iranian military takes action
According to Iranian semi-official Tasnim News Agency, the Iranian Army Navy Marines seized the tanker "Ocean Koi" in a "special operation," on the grounds that the ship was "violating regulations" and "attempting to disrupt oil exports." Tasnim released a video showing several boats approaching the target in the dark, armed men boarded the ship and raised the Iranian flag. The specific time and location of the seizure were not disclosed.
According to Iranian state media Press TV quoting Iran's joint military command, prior to the above incident, Iran had accused US forces of attacking two of its oil tankers near the Strait of Hormuz. According to Xinhua News Agency, two radio recordings provided by crew near the Strait of Hormuz on May 8 show both tankers were attacked and called for assistance. Based on ship names "SEA STAR III" and "SEVDA" mentioned in the recordings, both are Iranian tankers. Analysts believe the recordings are Iranian personnel reporting the attack and calling for Iranian forces nearby to assist.
US military crosses the strait, direct confrontation
The US Central Command confirmed that the US military carried out strikes on missile and drone launch facilities responsible for attacking three US Navy ships in transit. The US stated that the destroyers "USS Truxtun," "USS Rafael Peralta," and "USS Mason" all safely passed through the Strait of Hormuz and reached the Gulf of Oman without any damage to US assets.
Central Command also stated the US has "no intention to escalate but is prepared to protect US military assets." Trump posted on social media Thursday night that a possible agreement "maybe will not happen, but could come true at any time."
On Friday morning, the UAE said its air defense systems were intercepting incoming missiles and drones. The UAE is among the US allies in the region most affected by Iranian retaliatory strikes.
Fragile ceasefire, negotiations face obstacles
Trump stated the one-month ceasefire agreement is currently still effective. However, the current round of conflict shows the fragility of the ceasefire. The US has handed Iran a one-page memorandum involving reopening the Strait of Hormuz and lifting the US blockade, with the goal of starting a one-month negotiation to achieve a final agreement.
Iranian leadership has so far not made clear whether they will accept US terms, and has shown almost no concessions on the US core demands of suspending its nuclear program and uranium enrichment activities. Saudi media Al Arabiya, citing diplomats, said progress on nuclear issues and sailing through the Strait of Hormuz is slow and needs more rounds of talks, but agreement on ensuring safe passage of ships is "very close."
According to reports, Saudi Arabia and Kuwait have lifted restrictions on US use of their bases and airspace, which may help the Trump administration restart efforts to unblock the Strait of Hormuz. The Saudi and Kuwaiti embassies in the US have not responded to requests for comment.
The ongoing turmoil in the Strait of Hormuz is having a profound impact on global energy markets. The strait usually carries about one-fifth of the world's oil and liquefied natural gas shipments. Since the US and Israel attacked Iran and the war broke out at the end of February this year, the strait has essentially been closed.
According to the US Automobile Association, US gasoline prices have surged past $4.50 per gallon, the highest since July 2022, further increasing political pressure on the Trump administration over energy issues—with six months to the midterm elections, energy costs have become one of the core topics.
Risk Disclaimer and TermsMarkets are risky, investment needs caution. This article does not constitute personal investment advice, nor does it take into account individual user's specific investment objectives, financial situation, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article suit their own circumstances. Investing accordingly, responsibility is your own. ```