US Strikes Iran After Hormuz Attack; Israel, Lebanon Sign Tentative Peace Deal

The United States launched military strikes against Iran on Friday, targeting missile and drone storage facilities and coastal radar sites. This action was a direct response to an Iranian drone strike on a cargo ship in the Strait of Hormuz, an attack that US President Donald Trump attributed to Iran and deemed a violation of a recent agreement. The strikes have cast doubt on the future of an interim peace deal between the two nations.

Meanwhile, in a separate development, Israel and Lebanon announced a tentative agreement to end their ongoing conflict. The deal, brokered with US involvement, calls for Hezbollah to disarm and Israeli troops to withdraw from Lebanon. However, the enforcement of this agreement remains uncertain, with Hezbollah stating it would not cooperate with the disarmament terms.

Iran has warned Gulf states against siding with Washington and asserted its control over the Strait of Hormuz. Iranian Deputy Foreign Minister Kazem Gharibabadi stated that safe passage through the strait cannot be guaranteed without considering Iran's role as a coastal state. Iranian state television reported that three foreign tankers attempting unauthorized passage were turned back by the Islamic Revolutionary Guard Corps.

Oil prices saw a decline of about 3% on Friday, heading for significant weekly losses despite the conflicting interpretations of the interim deal and renewed concerns over the Strait of Hormuz, a critical chokepoint for global energy supplies. Saudi Aramco resumed crude loadings at its Ras Tanura terminal, the world's largest oil port, after a four-month hiatus. Fertilizer shipments through the strait have also increased.

“

Safe passage through the Strait of Hormuz cannot be guaranteed under ambiguous arrangements, parallel routes or decision-making that does not take Iran's role as a coastal state into account.