CNBC reported that U.S. President Donald Trump ordered the U.S. to launch strikes against Iran for the third consecutive night after Iranian missiles hit two UAE oil tankers in the Strait of Hormuz and triggered air-raid alerts across the Persian Gulf. The U.S. Central Command said the strikes will continue to impose costs on Iranian forces and reduce Tehran’s ability to attack shipping within the strait. The operation was carried out after Trump ordered the resumption of a waterways blockade against Iran at 4:00 p.m. Eastern Time on Tuesday, and after he proposed a 20% transit fee on vessels passing through the strait. The UAE Ministry of Defence said the tankers Mombasa and AI Bahiyah were hit by two Iranian cruise missiles in the southern transit lane of the strait, within Oman’s territorial waters, killing one Indian crew member and injuring eight others; Bahrain also sounded missile alert sirens. Kpler said that the number of confirmed transits through the Strait of Hormuz between July 10 and 12 fell by about 52% compared with the same period last week. Lloyd’s Ship Classification intelligence department said that as shipowners and charterers pause their decision to transit, the war risk premium is expected to rise sharply. On Tuesday, Brent crude rose 2% to $85 per barrel, while U.S. West Texas Intermediate (WTI) rose 2.3% to $80 per barrel.