Iran reasserts its right to control shipping in Strait of Hormuz after ship hit near Oman

Iran is once again making headlines by reasserting its control over the Strait of Hormuz, a critical global shipping route, following a recent incident where a ship was reportedly hit near Oman. This move comes after the US and Gulf states collectively rejected Iran's demands for tolls. The Iranian Revolutionary Guard Corps (IRGC) has been accused of turning back tankers, raising tensions in the region. This situation is significant because the Strait of Hormuz is vital for global oil supply, and any escalation could have far-reaching economic and geopolitical consequences.