Dubai: Iran announced on Wednesday that it had targeted 10 ships near the strategic Strait of Hormuz following the United States' sinking of five Iranian oil tankers. This marks the most significant series of retaliatory attacks on shipping by both nations since their conflict began six months ago. According to France24.com, the escalating tensions have caused oil prices to spike, with Brent crude futures surpassing $100 a barrel for the first time since July. The violent exchanges have resulted in casualties, including the death of at least one seafarer aboard a tanker and another missing. Iran also reported launching ballistic missiles at a U.S. military base in Jordan, further heightening the situation. The reciprocal attacks have disrupted a brief period of calm, with both nations targeting military, shipping, and energy infrastructure. The Iranian Revolutionary Guards have threatened to intensify their response, pledging to hit 20 targets if provoked again. They plan to designate a new restricted mari time zone extending to Chabahar on Iran's southeast coast. UN Secretary-General Antonio Guterres has urged all parties to exercise restraint to prevent further escalation near the Strait of Hormuz. Recent confrontations have also intensified between Saudi Arabia and the Houthis in Yemen, adding another layer of instability that threatens global energy supplies. The U.S. military's Central Command confirmed the destruction of five Iranian oil tankers and released footage of the burning vessels. The U.S. justified its actions as a countermeasure to Iran's attempted missile strikes on an American warship. U.S. Secretary of State Marco Rubio stated that any Iranian aggression towards U.S. naval ships would be met with the destruction of Iranian tankers. Iran retaliated by attacking two U.S. ships and eight tankers. The Hercules Star, an oil products tanker, suffered casualties, with one seafarer killed and another missing, possibly due to a drone strike. Maritime security sources reported multiple merchant ves sels damaged by projectiles in the region. Further incidents include an Iraqi tanker catching fire after a drone strike and threats to oil tankers in Kuwaiti and Bahraini ports. A liquefied natural gas tanker was also reported damaged in Khor Fakkan, UAE. Iran's missile strikes on a U.S. base in Jordan were largely intercepted, according to Jordanian officials, and resulted in no American casualties. An explosion was reported near the Iranian port city of Jask, though details remain unclear. The conflict has severely impacted oil flow through the Strait of Hormuz, reducing it to as low as 2 million barrels per day from a previous high of 8 to 9 million barrels per day before hostilities resumed. The conflict has also affected refined fuel prices, with U.S. diesel reaching an unprecedented average retail price of $5.94 per gallon. The ongoing clashes between Saudi Arabia and the Houthi movement in Yemen have further complicated the energy market landscape, following Houthi attacks on Saudi cities and oil in stallations. Saudi Arabia issued alerts following these assaults, but later declared the threat contained. Meanwhile, the Saudi-backed Yemeni government in the south has launched attacks on Houthi-controlled areas, with the latter threatening Saudi shipping in the Red Sea.