Tensions in the Strait of Hormuz escalate as recent attacks on multiple cargo ships, including Thai vessels, have left several crew members missing. As of now, at least three ships have been struck by projectiles, with reports of a burning vessel abandoned while trying to escape the area. The ongoing conflict has prompted Thailand to condemn the strikes and summon the Iranian ambassador. Amid these developments, oil prices have surged, hitting $100 a barrel, forcing several countries to release emergency oil reserves. Iran has intensified its campaign against commercial shipping, claiming that it targets vessels without permission to traverse the crucial waterway. The situation has garnered international concern, leading to calls for increased naval escorts for merchant ships in the region.