Tanker fired on by gunboats in Strait of Hormuz

CBS News gained rare access to the Strait of Hormuz, observing dozens of ships stranded and waiting at the vital waterway, despite Iran's declaration that it is "completely open" to commercial shipping. CBS News senior foreign correspondent Imtiaz Tyab, after weeks of planning, posed as tourists and hired a local boat captain to reach the strait's narrowest point, where tankers and cargo vessels sat idle as far as the eye could see. The visit came amid a fragile ceasefire between the United States, Israel, and Iran brokered by Pakistan, though access to these waters has been tightly controlled since the violence escalated, with Iran reportedly mining parts of the strait. Despite Iran's announcement, the strait remains functionally closed. Oil futures tumbled Friday, with West Texas Intermediate crude settling down 12% at $83.85 per barrel and Brent crude down 9%, as confusion persisted over conflicting statements. Iranian officials issued conditions for safe passage that mirror restrictions Tehran has imposed for weeks, requiring ships to follow a military-designated route and coordinate with authorities. Ships linked to hostile nations remain banned. Meanwhile, President Trump confirmed the U.S. naval blockade targeting vessels entering or leaving Iranian ports remains in place, and tankers attempting to exit the strait Friday suddenly turned back without approval. The world's largest shipping association, BIMCO, advised vessels to avoid the area due to the threat of mines, calling it "not declared safe for transit." The disruption is set to worsen. The final tankers carrying Middle East oil that departed before the closure have now completed their weekslong journeys to destinations in Asia, Europe, and North America. Refineries in Asia, heavily dependent on Mideast crude, will have to cut output, potentially causing supply shortfalls for products like jet fuel. Analysts say it will take months for traffic through the strait to return to normal, as large shipping companies wait to observe how the first movers fare before committing themselves. Roughly 20% of the world's oil passes through the Strait of Hormuz, and even partial disruption sends shockwaves through global energy markets.