An Iranian cargo ship flying an American flag was reportedly targeted near Qatar's coast, according to Iran International. The incident is the latest in the escalating 2026 Strait of Hormuz crisis, which began after U.S.-Israeli strikes killed Iran's Supreme Leader Ali Khamenei. Tehran has responded with maritime attacks and a blockade in the strategic waterway, critical for global oil trade.
Traffic through the Strait has dropped 70% since the conflict began. The U.S. launched Operation Project Freedom to escort vessels, but tensions remain high. Prediction markets now show a 62.5% probability that 20 ships will transit by May 31, down from 69% a day ago, reflecting skepticism about a return to normal traffic levels.