US Central Command said in a statement early on Monday that it struck dozens of Iranian targets overnight as Iran targeted American bases across the Gulf.

The U.S. and Iran disputed whether Hormuz was open to ship traffic after trading strikes over the weekend.

Brent crude climbs more than 4 percent as Washington and Tehran clash over control of critical waterway.

President Trump announced the United States will guard the Strait of Hormuz. He stated America will act as the waterway's guardian and receive payment. Trump accused Iran of…