Two oil tankers collided and caught fire near the Strait of Hormuz Wednesday night. The tankers, located off the coast of Iran, were reportedly experiencing navigational problems. The ships involved were the Adalynn and Front Eagle.

The Foundation for Defense of Democracies, in a policy briefing published Monday, stated: “US forces in the Middle East are under attack and are defending Israel from Iranian-backed aggression. Iran’s leaders continue to threaten to close the Strait of Hormuz - a critical energy chokepoint.”

Israel’s military strikes against Iran are raising concerns that Tehran could retaliate by closing the Strait of Hormuz, potentially disrupting oil and gas supplies and unleashing a fresh wave of inflation across the globe.