India, May 4 -- The US military denied reports on Monday that one of its Navy ships had been hit in the Strait of Hormuz. The response came after Iranian state media reported that a US frigate was targeted by two missiles. Central Command, which oversees US forces in the Middle East, wrote in a post on X, "No U.S. Navy ships have been struck. U.S. forces are supporting Project Freedom and enforcing the naval blockade on Iranian ports".

After reports on a missile strike on a US frigate surfaced, oil prices have shot up. Brent crude surged to around 5 per cent at 113 USD, and stocks fell after Fars reported the strike. Earlier, Tasnim, another Iranian news agency, stated that the government had 'redefined the control zone' in the Strait of...