US and Iran trade fire as Hormuz reopening tests ceasefire
Updated
Updated · Bloomberg · May 8
US and Iran trade fire as Hormuz reopening tests ceasefire
12 articles · Updated · Bloomberg · May 8
President Donald Trump ordered US warships to cover merchant vessels in the Strait of Hormuz, then abruptly shelved Project Freedom on Tuesday.
The exchanges underscored Washington's shift toward restoring shipping through the chokepoint while postponing harder negotiations over Tehran's nuclear and ballistic missile programmes.
Iran also targeted oil facilities in the nearby United Arab Emirates, widening risks to regional energy infrastructure and the fragile US-Iran truce.
What secret deal prompted President Trump to abruptly halt the US Navy's 'Project Freedom' escort mission?
As Iran's new toll system collects millions, is this the new reality for global oil shipping?
With the UAE quitting OPEC, has the balance of power in the Gulf permanently shifted away from Saudi Arabia?