Iran and the US exchanged strikes after Iran fired at US warships, and the US hit three Iranian-linked oil tankers. Iran still controls the Strait of Hormuz, through which one-fifth of world oil previously flowed, and the US counter-blockade of Iranian ports continues. The conflict is deadlocked with no ceasefire since July. For a Thai SME, this is a signal to watch fuel and freight costs and to avoid locking in fixed-price fuel or shipping contracts without a fuel-surcharge clause.