Three Vessels Hit in Strait of Hormuz — Global Oil Crisis Deepens
The war between the United States, Israel, and Iran entered its 12th day on Wednesday with a dramatic escalation in the Strait of Hormuz — the narrow waterway through which one-fifth of the world’s oil supply flows.
Three commercial cargo ships were struck by unidentified projectiles in or near the strait on Wednesday morning, according to the United Kingdom Maritime Trade Operations (UKMTO), the British agency that monitors maritime security in the region. One vessel — a Thai bulk carrier — caught fire, with three crew members reported missing. The other two ships sustained damage but were able to continue sailing.
The attacks came just hours after Iran’s military issued a chilling warning: any ships belonging to the United States, Israel, or their allies passing through the Strait of Hormuz would be considered “legitimate targets.”
It’s a threat that has sent shockwaves through global shipping and energy markets — and one that major world powers are now scrambling to respond to.
Japan, Germany, and Austria Release Strategic Oil Reserves
In a move that underscores just how seriously the world is taking the crisis, Japan, Germany, and Austria all announced on Wednesday that they would begin releasing oil from their strategic reserves to help stabilize global supply.
The announcements came just hours before an emergency meeting of Group of 7 (G7) leaders — including the United States, United Kingdom, France, Canada, Italy, and Japan — to discuss a coordinated release of oil reserves in consultation with the International Energy Agency (IEA).
Oil prices have been in turmoil since Operation Epic Fury began on February 28, when U.S. and Israeli forces launched surprise airstrikes across Iran. With the Strait of Hormuz now effectively closed to commercial tanker traffic, energy analysts warn that prices could spike even further if the waterway remains contested.
“The strait is the single most important chokepoint in global energy,” said one European energy official, speaking on condition of anonymity. “If it stays closed for weeks, we’re looking at an oil shock not seen since 1973.”
U.S. Destroys 16 Mine-Laying Vessels — Iran Doubles Down
The ship attacks on Wednesday followed a major U.S. military operation on Tuesday, when CENTCOM announced it had destroyed 16 Iranian mine-laying vessels near the Strait of Hormuz. Video released by the Pentagon showed munitions striking the vessels — most of which were moored at the time of the attack.
President Trump had earlier warned Iran on Truth Social to “immediately” remove any mines from the strait, writing: “If for any reason mines were placed, and they are not removed forthwith, the Military consequences to Iran will be at a level never seen before.”
But Iran has shown no signs of backing down. Tehran has reportedly spurned two separate ceasefire overtures from Trump’s special envoy, Steve Witkoff, according to The Guardian. Iranian leaders appear to believe they are not losing the war and that political pressure is building on the U.S. president domestically.
Pentagon Confirms 140 U.S. Troops Wounded
The Pentagon confirmed on Tuesday that approximately 140 American service members have been wounded in the first 10 days of Operation Epic Fury. Eight of those injuries were described as severe, while most were characterized as minor — many occurring at U.S. bases in countries neighboring Iran.
Seven U.S. soldiers have been killed since the conflict began, including six Army Reserve soldiers who died in a drone strike on a command center in Kuwait on March 1. The remains of those soldiers were returned to Dover Air Force Base over the weekend in a somber ceremony.
Defense Secretary Pete Hegseth declared Tuesday that Iran “stands alone” and is “badly losing” on Day 10 of Operation Epic Fury, while promising that it would be the “most intense day of strikes” yet inside Iran.
Iran Fires 37th Wave of Missiles — Targets Israel and U.S. Bases
Despite the Pentagon’s claims of degraded Iranian capability, the Islamic Revolutionary Guard Corps (IRGC) launched what it described as its 37th wave of retaliatory attacks on Wednesday, firing “super-heavy Khoramshahr missiles” in multi-layered barrages lasting more than three hours.
The strikes targeted locations across Israel — including Tel Aviv, Haifa, and West Jerusalem — as well as U.S. military bases in Erbil, Iraq, and Manama, Bahrain.
The Pentagon has claimed that Iran’s ballistic missile attacks are down more than 90% and drone attacks down approximately 85% since the start of the operation. But the continued missile barrages suggest Iran still retains significant strike capability — even if at a reduced rate.
Drones Fall Near Dubai Airport — Gulf States Under Fire
The war’s spillover effects continued to rattle the Gulf region on Wednesday. Authorities in Dubai reported that two drones fell near Dubai International Airport, one of the world’s busiest air hubs, injuring four people. Three of the injuries were described as minor.
This follows earlier strikes on Dubai, Bahrain, and Kuwait over the past several days, as the IRGC has expanded its targeting beyond Israel and U.S. military installations to include Gulf state infrastructure.
The Human Cost: Over 1,300 Dead in Iran
The toll of the conflict continues to mount. According to Iranian and Lebanese health officials and Israeli authorities:
- More than 1,300 people killed in Iran, with Tehran claiming nearly 10,000 civilian sites have been hit — including approximately 8,000 residential homes
- 570 killed in Lebanon, where Israeli strikes have targeted Hezbollah positions and infrastructure
- 12 killed in Israel from Iranian retaliatory missile strikes
- 7 U.S. soldiers killed and 140 wounded
One of the most devastating strikes reportedly hit an all-girls school, killing more than 165 people — most of them children. When pressed on civilian casualties during a press conference, Hegseth pivoted to accusing Iran of moving military assets “into civilian neighborhoods.”
Iran Rejects Ceasefire — What Comes Next?
Perhaps the most alarming development is Iran’s refusal to engage in ceasefire negotiations. Trump’s special envoy Steve Witkoff has reportedly sent two separate messages to Tehran seeking a diplomatic off-ramp, but both have been rejected.
Iranian leaders appear to be calculating that time is on their side. Domestic polls show that a majority of Americans oppose the war, oil prices are hammering the global economy, and the conflict is drawing in more countries and flashpoints by the day.
The newly appointed Supreme Leader Mojtaba Khamenei — son of the previous Supreme Leader Ali Khamenei, who was killed in the initial strikes on February 28 — has not appeared in public, raising questions about whether he was injured in the attacks.
Meanwhile, Senate Democrats have begun publicly questioning the legal authority for the conflict, adding political pressure from Capitol Hill.
What to Watch
As the war enters its second week, several critical questions loom:
- Will the Strait of Hormuz remain closed? If so, the global economic impact could be catastrophic.
- Can the G7 oil release stabilize markets? Japan, Germany, and Austria have acted — but coordinated action from all major economies may be needed.
- Will Iran’s missile capability hold? The Pentagon says it’s degraded, but the 37th wave of attacks suggests otherwise.
- Is a ceasefire possible? With Iran rejecting overtures and the U.S. escalating strikes, the diplomatic window appears to be narrowing.
Day 12 of Operation Epic Fury has made one thing clear: this war is far from over — and its consequences are being felt far beyond the Middle East.
This is a developing story. Check back for updates.