The US and Iran traded their most significant military strikes in months on September 1, ending a month-long pause near the Strait of Hormuz. Yet more than 17 million barrels of oil still moved through the strait on Monday, a record since the war began in late February.
US Central Command struck dozens of Islamic Revolutionary Guard Corps sites along Iran's southern coast on September 1, and Tehran answered with ballistic missiles aimed at American facilities across the Middle East. The exchange ended roughly a month of relative quiet between the two nations, a pause meant to open space for economic talks. Instead, both sides accused the other of breaking the ceasefire first, and the diplomacy window now looks shut.
US and Iran trade their heaviest blows since July
US airstrikes targeted IRGC air defense and communication systems near the Strait of Hormuz, described as a direct response to earlier Iranian attacks on commercial shipping and American personnel. Reports indicate the strikes killed at least five civilians and injured between 50 and 68 people at a wedding near the town of Sirik.
Iran answered by launching 13 ballistic missiles toward Jordan, though most were intercepted by American defenses; Iranian officials claimed successful hits that Washington has not corroborated. President Trump escalated the rhetoric afterward, warning that continued retaliation would bring far heavier force. According to Crypto Briefing: "There will be very little left of the Islamic Republic of Iran", he said. This latest round is the most intense since July.
Oil still flows at record volume through Hormuz
Despite the fighting, more than 17 million barrels of oil transited the Strait of Hormuz by ship on Monday, a record since the war began, US Energy Secretary Chris Wright told CNBC. Wright said Monday's exports exceeded pre-war levels when Saudi and UAE pipelines that bypass the strait are counted; around 20 million barrels a day of crude and products passed through it before the war started on February 28.
US crude fell about 1% on Wednesday, though it had hovered near $90 a barrel earlier in the session as Washington and Tehran traded strikes.
Shipping reroutes as the corridor stays contested
The strait is a 21-mile-wide chokepoint carrying roughly one-fifth of the world's daily oil supply. Shipping companies have already been rerouting vessels to avoid the most dangerous stretches of water near Iran's coast, adding transit time, fuel costs, and logistical complexity. The US campaign against IRGC infrastructure on the southern coast aims to curb Tehran's ability to threaten that corridor going forward.
Sources: CNBC, Crypto Briefing
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