The United States has launched a fresh wave of military strikes against Iranian targets, responding to Tehran's decision to close the Strait of Hormuz to all shipping.
The escalation follows an attack by Iran's Islamic Revolutionary Guard Corps on a container vessel, which Iran claimed was traveling on an unapproved route.
Tehran stated it fired a warning shot that struck the vessel before declaring the strait closed.
Reports also indicate that Gulf states have been hit in the broader exchange of fire.
The closure of the Strait of Hormuz represents a severe disruption to global energy markets, as approximately one-fifth of the world's oil supply passes through the narrow waterway.
Brent crude prices are expected to face significant upward pressure as traders price in the risk of prolonged supply interruptions.