Iran Strikes Ships in Strait of Hormuz, Claims Fulfilling Commitments

Iran's Foreign Ministry spent Tuesday insisting it is diligently fulfilling its Strait of Hormuz commitments under the Versailles memorandum, hours after projectiles struck a Qatari liquefied natural gas carrier and a Saudi tanker inside the waterway. The attacks raise tensions in the critical shipping lane through which about 20% of global oil passes.

No group has claimed responsibility, and the ministry's statement appears to frame the incidents as part of Iran's routine enforcement rather than an escalation. The Versailles memorandum, signed in 2015, outlines Iran's responsibilities for safe passage in the Strait.

Market participants are watching for further disruptions, as any sustained blockade could trigger a spike in crude prices and ripple through currency markets tied to oil exporters.