U.S. and Iran trade strikes after IRGC declares Strait of Hormuz "closed"

Tensions between the U.S. and Iran have escalated dramatically with both sides exchanging strikes after Iran's IRGC claimed the Strait of Hormuz is "closed." The U.S. retaliated to an IRGC missile attack that damaged a cargo ship, while Iran responded by targeting Qatar, UAE, and Jordan with drones and missiles. This dangerous exchange jeopardizes the tenuous U.S.-Iran memorandum of understanding from last month, raising fears of broader regional instability and disrupting crucial global oil supply routes through the Strait of Hormuz.