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US and Iran launch new attacks as they wrestle for control of Gulf waters

The exchanges disrupted a fragile truce and sent oil prices up more than 5%, while commercial shipping remained largely blocked.

  • On Monday, Iran launched missiles, drones, and small boats at vessels in the Strait of Hormuz after President Donald Trump announced 'Project Freedom' to escort commercial ships through the waterway.
  • The waterway has been virtually blocked since joint U.S.-Israeli strikes in February, and a fragile ceasefire collapsed following months of maritime blockades and failed diplomatic talks between the two nations.
  • U.S. Central Command reported destroying six Iranian boats during the engagement, though Iran denied naval losses; separate Iranian missiles set a United Arab Emirates oil facility ablaze, injuring three Indian nationals.
  • Oil prices jumped more than 5 percent in volatile trade following the attacks, while experts caution that two U.S.-flagged vessels' successful passage does not mean the waterway is fully operational.
  • Iranian Foreign Minister Abbas Araqchi stated there was 'no military solution' to the crisis, warning the U.S. and the UAE against being drawn into a 'quagmire' as hostilities threaten global energy trade.
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Iran is "weaponizing the global supply chain" with its naval threats in the Strait of Hormuz, says the chairman of the US Joint Chiefs of Staff, Dan Caine. In response, as part of Operation Freedom, the US has established a "significant presence" over the strait while continuing its blockade, he says while showing reporters graphics at the Pentagon. An "enhanced security zone" on the southern side of the strait is now protected by US land, sea a…

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Reuters broke the news in United Kingdom on Monday, May 4, 2026.
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