Fresh U.S. strikes and escalating attacks on shipping are driving new fears over global energy supplies and market stability.
The United States launched a third straight night of military strikes against Iran after President Donald Trump announced the return of a naval blockade targeting Iranian shipping. At the same time, tensions in the Strait of Hormuz intensified as Iran attacked oil tankers and expanded missile and drone operations across the Gulf.
Key Details
U.S. Central Command said its latest five-hour operation targeted Iranian coastal defense systems, missile and drone sites, and maritime assets, including locations near Bandar Abbas, Bushehr, Jask, Chah Bahar, Konarak, and Abu Musa Island.
The renewed offensive followed Trump's announcement that the U.S. would restore its blockade of Iranian shipping and charge a 20% fee on cargo passing through the Strait of Hormuz.
The United Arab Emirates said Iranian missiles struck two Emirati-flagged oil tankers, killing one Indian sailor and injuring eight crew members. Iran claimed the vessels ignored warnings and entered a prohibited route.
Iran also said it launched missile and drone attacks against U.S. military facilities in Bahrain, while Bahrain and Jordan reported intercepting multiple incoming missiles.
Market Reaction
Oil prices climbed around 2%, with Brent crude reaching $84.98 per barrel and WTI rising to $79.79. Brent had already surged 9.6% in the previous session, marking its biggest daily gain since May 2020. Asian stock markets traded unevenly as investors reacted to the escalating conflict.
Why It Matters
The Strait of Hormuz handles a large share of the world's oil shipments. Any disruption raises the risk of higher energy prices, increased market volatility, and broader pressure on global financial markets.
Traders are closely watching whether military action expands further, how Iran responds, and whether shipping through the Strait of Hormuz faces additional disruptions.
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Source: Reuters
Time: 9:30 AM EEST
