Since February 28, when the U.S. and Israel launched surprise attacks on Iran, tensions have been high. The Strait of Hormuz, a vital route for global oil and gas exports, has reignited fighting. Earlier Tuesday, the UK Maritime Trade Operations reported an unidentified projectile struck an unnamed cargo vessel in the Strait of Hormuz, off Oman. The turmoil in Hormuz has heightened the importance of alternative shipping routes, particularly through the Red Sea. The Red Sea serves as a passage to the Suez Canal.