The US military said it carried out “proportional” strikes against Tehran on Tuesday after Iran shot down a US Army helicopter near the Strait of Hormuz. In a first for the US, the two American aviators aboard the chopper were rescued by a drone boat.

The US’ retaliation could further inflame tensions between Washington and Tehran, as their ceasefire appears on ever-shaky ground, following a series of strikes between Iran and Israel.

Despite the escalations, oil prices fell on Tuesday after the US energy secretary said shipments through the strait were rising “very meaningfully.” And US Vice President JD Vance suggested Washington was “very close” to a deal — but that it could happen next week or “months from now.”