The United Arab Emirates issued a missile threat warning on Monday, marking the first such alert since a ceasefire between the US and Iran took effect roughly one month ago. The notice followed an incident in which an oil tanker owned by Abu Dhabi National Oil Co. (ADNOC) was struck by Iranian drones outside the Strait of Hormuz.
The Strait of Hormuz had previously carried about one-fifth of global oil and liquefied natural gas transit prior to the conflict that began in late February. The disruption to that route has been a central concern for global energy flows.
President Donald Trump announced on Sunday plans to re-establish transit through the waterway and to assist ships that have been unable to leave the Persian Gulf. The operation started on Monday with US military support, including guided-missile destroyers, aircraft and drones. The US military reported that two US-flagged merchant ships have already traversed the strait.
Iran warned that it would attack US forces if they enter the Strait of Hormuz. According to Iran's semi-official Fars news agency, the country's military fired warning shots at US Navy ships attempting to approach the strait, employing cruise missiles, rockets and combat drones.
Brent crude responded to the developments in the region, trading about 2.5% higher at just under $111 a barrel following the escalation.
The ceasefire that went into effect about a month ago has been part of diplomatic efforts intended to end a war that has led to thousands of deaths and has interrupted global energy supplies. The recent incidents - the tanker strike, the UAE missile warning and the US operation to reopen the strait - illustrate continuing strains on that ceasefire and ongoing risks to maritime traffic and energy markets.
Summary
The UAE issued a missile warning on Monday - the first since a ceasefire began about a month ago - after an ADNOC-owned tanker was hit by Iranian drones outside the Strait of Hormuz. The US launched an operation to restore passage through the strait and escort stranded vessels, deploying naval and air assets. Iran has warned it would attack US forces that enter the waterway and reported firing warning shots at US Navy ships.