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Iran Attacks Threaten to Shatter Ceasefire, Oil Prices Jump

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The UAE accused Iran of firing missiles and drones at its territory, while the US reported cruise missile attacks on military ships and the sinking of six Iranian speedboats. These assaults, the first since a April 7 ceasefire, risked breaking the US-Iran truce as President Trump ordered military assistance for ships navigating Iran's Hormuz blockade.

American officials confirmed Iranian forces targeted US warships and commercial vessels in the Persian Gulf, with Army Apache helicopters engaging Iranian boats. Negotiations between Washington and Tehran have stalled over incompatible red lines, leaving the region's stability hanging by a thread following the latest escalation.

Oil prices climbed amid fears of supply disruptions in the strategic waterway, while shipping companies remain reluctant to cross the Strait of Hormuz despite Trump's pledge to protect vessels. The attack cycle underscores how fragile the ceasefire remains, with both sides testing boundaries while diplomatic talks stall.