Trump Says Iran Violated Ceasefire With Drone Strike on Ship in Hormuz

President Trump accused Iran of violating the recently signed ceasefire agreement after drones struck a commercial vessel in the Strait of Hormuz, and the US responded with retaliatory strikes hours later. The incident is the first major test of the 60-day interim deal between Washington and Tehran, and it puts the world’s most important oil chokepoint back in the spotlight.

What happened

Trump accused Iran of violating a ceasefire agreement with the U.S. by launching attack drones at ships passing through the Strait of Hormuz, including a cargo vessel that was struck off the coast of Oman on Thursday.

Trump said the U.S. shot down three out of four one-way attack drones launched by Iran, with one hitting the upper deck of a cargo-carrying ship. US Central Command said it conducted strikes against Iranian missile and drone storage locations and coastal radar sites in response to the attack on the Ever Lovely, calling Iran’s actions unwarranted aggression that clearly violated the ceasefire.

The ceasefire backdrop

The 14-point memorandum of understanding, signed by Trump and Iran’s president on June 17 and put into effect the next day, established the ceasefire and opened up passage through the strait. Its fifth paragraph said Iran will use its best efforts to ensure safe passage of commercial vessels with no charge for 60 days.

Iranian Deputy Foreign Minister Kazem Gharibabadi pushed back, emphasizing Iran’s control of the strait and saying safety cannot be guaranteed for ships that transit the waterway without consultation with Tehran.

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Shipping disruption widens

Trump’s statement came on the heels of the International Maritime Organization, a United Nations agency, pausing efforts to evacuate ships and seafarers stranded in the strait. Secretary-General Arsenio Dominguez said the evacuation plan would be temporarily paused to reconfirm safety guarantees for the ships on the evacuation list and others in the region.

On Wednesday before Thursday’s drone strike, 78 vessels transited the strait, the highest since the war began, although below prewar averages of 130 or more per day. Dominguez said 115 vessels had evacuated in the last three and a half days, representing around 2,500 seafarers safely out of the strait.

Escalation risk

Bahrain condemned an Iranian drone strike early Saturday, describing it as a blatant violation of its sovereignty and a flagrant threat to citizens and residents. The UK Maritime Trade Operations Centre said a tanker in the Strait of Hormuz reported being hit by an unidentified projectile on Saturday, with damage to its bridge but all crew safe.

U.S. crude oil fell below $70 after the attack on the cargo ship near Oman, a reminder that traders are still pricing in the on-again, off-again nature of the truce. For more developments, see other coverage here.

Options market and stocks to watch

Watch for energy and defense names to react as headlines roll in:

• USO and XLE: watch for moves tied to crude price swings as roughly 20% of global oil flows through the strait.
• XOM and CVX: integrated majors typically catch a bid on Middle East supply scares.
• LMT and RTX: watch defense primes after US Central Command’s retaliatory strikes on Iranian missile and drone sites.
• FDX: shipping and logistics names can see flow if the IMO evacuation pause drags on.

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