Iran Begins Mining Strait of Hormuz as US Claims to Have Destroyed 16 Iranian Vessels

Iran has begun mining the Strait of Hormuz, the critical waterway through which much of the world's oil passes, prompting immediate military response from the United States. American forces claim to have destroyed 16 Iranian vessels that were being used to lay mines in the strategic strait. The escalating tensions have sent shockwaves through global markets, with additional volatility sparked by a deleted tweet from a US government minister. The Strait of Hormuz serves as a chokepoint for approximately one-fifth of global petroleum liquids transit, making any disruption to shipping lanes a matter of international economic concern.