Japan foreign minister urges Iran show 'restraint' in its vessel attacks

US forces carried out five missile strikes on Iranian oil tankers in response to Iran's repeated attacks on American ships, according to US Central Command (Centcom). Four of the targeted tankers were linked to Iran’s Revolutionary Guards Corps and were based in the Gulf of Oman, while another tanker near Kharg Island, a crucial oil terminal off Iran’s coast, also came under attack.

Tehran retaliated by launching missile strikes on a US base in Jordan, though Jordanian authorities claimed they shot down 18 of the 20 Iranian missiles using their air defense systems.

The escalating cycle of tit-for-tat strikes between the two nations has intensified over the past week, more than six months after the US and Israel launched attacks on Iran on February 28. In early trading, oil prices rose, with benchmark Brent crude increasing by 1.5% to $99.41 per barrel and US-traded oil climbing 1.6% to $94.55.

When Iran fired missiles towards Jordan, two of them fell in uninhabited areas, according to a spokesperson for the Jordanian Armed Forces. Iran has threatened further retaliatory strikes, warning crews of US-aligned tankers near ports in Kuwait and Bahrain that they "will be targeted if they remain". In the latest escalation, Iran attacked a US warship with ballistic missiles, which Centcom stated were "successfully evaded" and did not result in any American casualties.

The US described the five Iranian oil tankers targeted as part of a multi-billion-dollar network that finances the IRGC and its regional affiliates. Kharg Island, the site of one of the recent attacks, is home to Iran's primary oil terminal, where 90% of the country's crude oil is transported via pipelines from the mainland. Heightened regional instability has further contributed to the pressure on oil prices.

Yemen’s Iran-backed Houthi movement also targeted energy facilities and civilian infrastructure in Saudi Arabia on Tuesday, causing fires at oil installations and resulting in a temporary halt to operations, according to Saudi authorities. Of the 73 people injured, 73 were reported by Saudi officials.

US Secretary of State Marco Rubio commented on the recent escalations, stating that Iran continues to attempt to hit US naval vessels, and for every such attempt, Iran will lose tankers. Rubio's comments came during a trip to Colombia. The US strikes on Tuesday followed reports that Iran claimed to have seized an uncrewed US submarine in the Strait of Hormuz.

Centcom spokesperson Captain Tim Hawkins clarified that the underwater drone operated by US forces malfunctioned over a day ago and was utilized to monitor regional waters for ongoing operations. The faulty drone was an older model that did not collect sensitive data or carry classified sonar or radar equipment, adding that US operations in the region remained active.