The U.S. military is striking Iranian targets near the Strait of Hormuz in response to a drone attack on a commercial tanker. This marks the second wave of U.S. strikes in Iran within 24 hours, escalating tensions in the critical waterway. The increased hostility threatens the fragile U.S.-Iran memorandum of understanding. The recent incident involved the Iranian Revolutionary Guards Corps launching a drone at the M/T Kiku tanker, carrying two million barrels of crude oil. This followed earlier U.S. retaliatory strikes for a Thursday attack on another commercial vessel. Iran responded to those initial U.S. strikes by attacking targets in Bahrain early Saturday. U.S. aircraft have targeted Iranian military infrastructure, including surveillance systems, communication hubs, air defense sites, drone storage, and minelayer capabilities. CENTCOM stated that Iran "was given a chance to honor the ceasefire agreement but elected not to." The situation remains dynamic and is a developing story.