Middle East War Day 78: USS Ford Sets Deployment Record; Latest Developments at a Glance

Paris, May 16 (CNA/AFP/CNBC) -- The military actions between the US, Israel, and Iran have entered their 78th day. The world's largest aircraft carrier, the USS Gerald R. Ford, returned to the United States today after completing a 326-day deployment, marking the longest deployment for a U.S. carrier since the Vietnam War. Here is a summary of the latest situation in the Middle East war, compiled by AFP and CNBC. On the U.S. side, the USS Gerald R. Ford returned to Virginia today, concluding a 326-day mission. During its deployment, the Ford assisted in U.S. military arrest operations during Nicolas Maduro's presidency in Venezuela, then moved to the Middle East to support the war between the U.S. and Iran. On the Israeli side, the military continues to fight the Iran-backed Shia fundamentalist group Hezbollah in Lebanon. Despite a ceasefire extension agreement between Israel and Lebanon the previous day, Israel launched a new wave of airstrikes against Hezbollah today. Lebanese media reported that at least five villages in the south were bombed. The Israeli military also stated that one soldier was killed in combat in southern Lebanon, bringing the total to 21 soldiers killed in related conflicts since the war with Hezbollah began in early March. Iranian state television reported that following the passage of ships from East Asian countries such as China, Japan, and Pakistan through the Strait of Hormuz, European nations have also begun negotiations with Tehran. The report did not provide further details. Meanwhile, the Iranian national football team is scheduled for a training camp in Turkey on the 18th and will apply for U.S. visas in preparation for the World Cup, co-hosted by the U.S., Canada, and Mexico, opening next month. UBS estimates that global oil inventories have dropped from over 8 billion barrels at the end of February to 7.8 billion barrels at the end of April. If demand remains unchanged, inventories could approach a historic low of 7.6 billion barrels by the end of May. The IEA has warned that if the Strait of Hormuz remains closed, oil and fuel prices could surge further this summer. JPMorgan pointed out that of the billions of barrels in inventory, only about 800 million are actually accessible, with the rest needed to maintain pipeline operations. If the Strait of Hormuz does not reopen by September, global oil inventories could fall to a dangerous level of 6.8 billion barrels, and a failure in the distribution network could bring the global economy to a halt. Pakistan's Interior Minister arrived in Tehran today, hoping to advance stalled peace talks between Iran and the U.S. after a fragile ceasefire was reached. Affected by Iran's blockade of the Strait of Hormuz, Iraq's new oil minister stated that Iraq's oil exports through the strait plummeted to 10 million barrels in April, far below the usual 93 million barrels. Also affected is the African nation of Comoros. As the war in Iran drives up global fuel prices, Comoros has seen days of protests, which have turned deadly with one death resulting from clashes between police and protesters. (Translator: Tsai Chia-min) 1150517