US and Iran continue to trade attacks

The United States has carried out its fifth strike on Iranian targets in a week, continuing a series of reciprocal attacks in the Strait of Hormuz.

The escalation of tensions has brought a ceasefire agreement between the US and Tehran to the brink of complete collapse and threatens to trigger a full-scale war, the Financial Times writes.

Sunday's air strikes are part of a series of attacks since Tuesday last week that have damaged President Donald Trump's approval ratings, strained relations with allies and raised fuel prices ahead of midterm elections in November. Oil prices also rose in Asian markets on news of the reciprocal strikes.

The US Central Command (Centcom), which coordinates US military operations in the Middle East, said on Sunday that it had launched new strikes against Iran to "continue to undermine their ability to attack civilian maritime traffic and commercial vessels freely passing through the Strait of Hormuz".

Centcom said the fresh attacks came after Iran's Revolutionary Guard Corps (IRGC) opened fire on a merchant ship. U.S. forces also neutralized an Iranian cruise missile and an attack drone. Iranian state media reported explosions in the cities of Bandar Abbas, Sirik, Jask and Qeshm, all of which lie along the vital waterway.

It was the second wave of attacks on Sunday. Earlier in the day, the U.S. military had struck Iranian missile and air defense systems and IRGC small boats at several locations around the strait.