US, Iran engaged in tanker war: Where is the months-long conflict headed?

The United States and Iran have escalated tit-for-tat attacks in the past 24 hours, with Washington targeting three Iranian oil tankers and Tehran hitting tankers and firing a ballistic missile towards US warships patrolling near the Strait of Hormuz.

Experts have dubbed Iran’s targeting of the two US aircraft carriers a “calculated escalation”, as the months-long fighting is increasingly playing out at sea, with both sides trying to exert control over the strategic strait – a global chokepoint used by Tehran as leverage in the war.

The attacks on tankers come as the US claims that an increasing volume of oil has started to flow through the strait, though the exact figures are still debatable, while the naval blockade of Iranian ports continues.

The latest exchanges further dim hopes for a de-escalation through diplomacy as the US-Israel war on Iran has disrupted energy supplies and slowed economic growth around the world.

So, what do we know about the latest tanker wars, and where is the conflict headed?

US Central Command (CENTCOM) said its forces struck three Iranian vessels, including a tanker off Kharg Island, the hub through which Iran exported 90 percent of its crude before the war.

Another tanker was struck near Jask, and an unladen vessel was hit in the Gulf of Oman after its crew was told to abandon ship.

CENTCOM said the attacks followed Iranian ballistic missile launches against a US aircraft carrier and navy destroyer, which it said successfully evaded the strikes. No US personnel were injured.