Renewed Military Strikes Between the US and Iran Cause Fuel Price Surge
Brief Report: The ongoing conflict between the United States and Iran, which has lasted for three months, has intensified with renewed military attacks targeting each other’s positions. Following Iran’s closure of the Strait of Hormuz, global energy prices have surged, pushing crude oil prices up by more than three percent. US President Donald Trump has expressed a willingness to negotiate with Iran, while the Iranian Foreign Ministry has accused Washington of shifting its stance during talks. Kathmandu, June 1.
Amid ongoing diplomatic efforts to end the conflict, the US and Iran have once again launched strikes on each other’s military targets. The US military reported attacking Iran’s air defense system, a ground control station, and two drones. This action was taken in response to Iranian aggression involving the downing of an American drone in international waters.
On Monday, Iran’s Islamic Revolutionary Guard Corps issued a statement confirming a retaliatory attack on a US air base in southern Iran. Although Iran did not specify which base was targeted, Kuwait activated its air defense systems and strongly condemned the Iranian missile and drone attacks. Meanwhile, regional tensions have risen as Israel ordered its forces to advance against the Iran-backed Hezbollah in Lebanon. Since the conflict began on February 28, thousands have lost their lives.
Iran’s blockade of the key oil transit route, the Strait of Hormuz, has led to a worldwide increase in energy prices. Following Monday’s assault, crude oil prices rose more than three percent. Despite a ceasefire enacted in April, sporadic clashes between the US and Iran continue, with Pakistan mediating for a long-term agreement. President Trump indicated via social media his willingness to reach an agreement with Iran, dismissing critics and urging patience, asserting that everything will ultimately be resolved. However, Iranian Foreign Ministry spokesperson Esmail Baghaei accused Washington of changing its position during negotiations and sending contradictory messages. He described the talks as taking place in an atmosphere of distrust and called on the US to promptly clarify its stance.