Iran reports explosions on Qeshm island from ammo disposal
Explosions on Iran's Qeshm island were caused by the disposal of enemy ammunition. The event comes as Tehran sends a peace proposal to the United States.
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Iran neutralized unexploded enemy ammunition on Qeshm island on Tuesday, triggering loud explosions in the strategic waterway. The controlled detonations follow a period of heightened regional tension that started on February 28. Investors are monitoring the area closely as Qeshm sits at the mouth of the Strait of Hormuz, a chokepoint that handles roughly one-third of global seaborne oil exports.
