Market Extra: Iran seizes British-flagged oil tanker — here’s what you need to know about the Strait of Hormuz

A narrow waterway in the Middle East that marks the most sensitive transportation choke point for global oil supplies remained in focus Thursday after President Donald Trump said a U.S. warship downed an Iranian drone that had threatened it.

The action was the latest in a series of incidents in the region that have seen tensions rise between the U.S. and Iran following the Trump administration’s decision to withdraw from a 2015 nuclear deal and reimposed sanctions on Tehran.

Read:Trump says U.S. warship destroyed an Iranian drone

The risk of a U.S.-Iran military conflict has been seen on the rise since spring.

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