US and Iran trade fire, dispute status of Strait of Hormuz

The United States and Iran exchanged fire in the Persian Gulf, with conflicting claims over whether the Strait of Hormuz remains open to shipping. The incident escalates tensions between the two nations and threatens global oil supplies, as the strait is a critical chokepoint for about 20% of the world's petroleum. The disagreement highlights the fragile security situation in the region and potential for wider conflict.

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