US and Iran clash in the Strait of Hormuz; US claims to have destroyed six Iranian small boats.

CoinFeed reported on May 5th that, according to the Financial Times, clashes between the US and Iran near the Strait of Hormuz have escalated the Hormuz crisis again, causing oil prices to rise to $115 and US Treasury bonds to be sold off. Reuters also reported that the US has launched "Project Freedom" to reopen the Strait of Hormuz. The US military claims to have destroyed six Iranian small boats and intercepted cruise missiles and drones launched by the Iranian Revolutionary Guard, while escorting two US commercial vessels through the strait. Reuters stated that due to conflicting accounts from the US and Iran, it is currently impossible to independently verify the full situation on the ground in the strait. AP, citing UAE sources, reported that the UAE intercepted 15 missiles and four drones, causing damage and casualties in the Fujairah region. Iran has neither explicitly admitted nor denied responsibility but accused the US of "military adventurism."