US-Iran Ceasefire Under Strain After Sunday Attacks
A ceasefire between the US and Iran is under serious strain. The US conducted airstrikes near the Strait of Hormuz on Sunday.
Iran then launched drone and missile attacks on Bahrain and Kuwait. A supertanker carrying Qatari crude was hit near the Strait of Hormuz.
The hit happened during the flare-up between the two countries. Iran warned it would stop talks and close the Strait of Hormuz.
This warning came after the US airstrikes. The two sides have since agreed to stop attacking each other.
Oil prices rose after reports of that agreement emerged. The ceasefire deal was signed on June 17.
It set up a 60-day halt to fighting and a plan to reopen the Strait of Hormuz. Trump warned Iran will no longer exist if fighting continues.
Klear Note — The Strait of Hormuz is a narrow waterway between Iran and Oman. About one-third of world's oil passes through it. Disruptions there affect global oil prices and energy supplies.
Key Terms 4
- Strait of Hormuz Narrow sea channel where much of the world's oil passes through
- Supertanker Very large ship used to carry oil across oceans
- Ceasefire An agreement for two sides to stop fighting temporarily
- Memorandum of understanding A formal written agreement between two parties