Iran has accused the United States of violating a fragile ceasefire with airstrikes near the Strait of Hormuz, which could jeopardize ongoing peace negotiations aimed at ending nearly seven weeks of conflict. The US defended its actions as necessary for self-defense, targeting missile sites and vessels allegedly laying mines. The situation escalated after US Secretary of State Marco Rubio announced that negotiations could take 'a few days' to finalize a ceasefire agreement, which would allow for the resumption of shipping through the critical Strait of Hormuz. This waterway is vital for global oil transport, typically handling about 20% of the world's oil trade. The conflict has already caused a significant spike in fuel prices, with Brent crude futures rising to around $100 a barrel. Iran's Revolutionary Guards have vowed to retaliate against US actions, claiming to have downed a US drone. Additionally, Iran's negotiators are pushing for the release of approximately $24 billion in frozen assets as part of the agreement. The broader conflict has resulted in thousands of casualties, primarily in Lebanon and Iran.