Iran has launched attacks on U.S. military bases in several Gulf states, including Kuwait, Bahrain, Jordan, Oman, and Qatar, in response to renewed U.S. airstrikes. This escalation comes after a peace agreement aimed at reopening the strategically crucial Strait of Hormuz, which handles about 20% of the world's oil traffic, was put into doubt. The U.S.
Central Command reported successful strikes on Iranian military capabilities, including air-defense systems and missile sites, using a range of military assets. As tensions rise, oil prices surged by approximately 4%, with Brent crude futures reaching $79.02 per barrel and West Texas Intermediate at $74.27.
Iranian officials, including parliament speaker Mohammad Bagher Ghalibaf, have emphasized a hardline stance against perceived U.S. violations of agreements, while U.S. President Donald Trump indicated that the ceasefire from the previous peace deal has been abandoned.
The situation remains fluid, with conflicting reports on the status of shipping through the Strait of Hormuz, heightening market uncertainty and potential disruptions in oil supply