Fresh strikes test truce as ‘Project Freedom’ raises risk of reigniting wider conflict Last updated: May 05, 2026 | 14:17 Tracking data shows ships either side of the narrow Strait of Hormuz, and near ports on the Iranian coast, but few in the strait itself - as identified by the red circle. Source: Marine Traffic What was meant to be a temporary ceasefire to enable negotiations now looks increasingly unstable, as both sides trade accusations — and, increasingly, firepower. Washington says Iranian missiles , drones and fast boats targeted its naval forces and commercial shipping, while Tehran insists it only issued warnings and blames the US for provoking tensions through its naval operation, dubbed “Project Freedom.” With shipping still largely paralysed, oil markets on edge, and diplomacy struggling to keep pace, the key question now is whether the ceasefire is collapsing — or whether both sides are using it as cover to reset the battlefield.…