The war between the US and Israel on one side and Iran on the other is in its fifth week and things seem to be escalating, with Iran shooting down two US planes and Donald Trump threatening to unleash “hell” if Tehran doesn’t make a deal or reopen the Strait of Hormuz.
“Remember when I gave Iran 10 days to DEAL or OPEN the HORMUZ supply. Time is running out – 48 hours before hell reigns over them,” Trump reminded Iran on Saturday, suggesting the conflict could escalate in the coming days if a cease-fire deal is not reached.
Mahshahr Petrochemical Zone attacked
Trump’s comments on Saturday came hours after Iran claimed its Mahshahr petrochemical zone had been hit by US-Israeli strikes, with Iranian media saying the attack killed five and wounded 170.
The zone, also known as the Bandar Imam Petrochemical Complex, is one of Iran’s main petrochemical hubs, producing more than 72 million tonnes per year.
The search for the American pilot continues
Although Trump declined to address the two downed US planes, reports indicate that US troops are still searching for a crew member from the downed F-15 fighter jet.
Iran also shot down an A-10 Warthog ground attack aircraft near the Strait of Hormuz, but its lone pilot was rescued shortly afterwards.
The oil markets were rocked
Amid the effective closure of the key Strait of Hormuz, oil prices continue to show a strong upward trajectory, with benchmark Brent crude hitting $109 on Saturday.
The price of Brent crude was around $72 a barrel before the war began, but has risen more than 50% since February 28, when the US and Israel launched strikes against Iran, throwing the Middle East into chaos and forcing Iran to close the Strait of Hormuz, a key waterway for global energy trade.
Since then, Trump has repeatedly threatened Iran with a myriad of consequences, from strikes on its energy infrastructure to threats to unleash “all hell” if Tehran does not open the Strait of Hormuz.
Trump has also repeatedly asked allies for help escorting ships through the key strait, only to be insulted.
The clock is ticking
With Trump reminding the Iranian leadership of his earlier deadline for Tehran to reopen the Strait of Hormuz, the clock is ticking and it remains to be seen whether Iran will cave in to US demands.
Watch this space for LIVE updates from the US-Israel-Iran war.
