Iranian armed forces launched attacks on US military infrastructure in neighboring Gulf states on Thursday, marking a sharp escalation in the ongoing conflict.
The strikes came in direct response to recent US military operations targeting Iran's southern coastal and eastern provinces, according to reports from Channel NewsAsia.
The development signals a significant widening of the theater of operations, moving beyond direct state-on-state strikes to include US assets hosted in allied Gulf nations.
This shift raises immediate concerns for regional stability and the security of critical maritime chokepoints, particularly the Strait of Hormuz, which remains a vital artery for global oil supplies.
Markets are likely to reassess the risk premium embedded in energy prices as the conflict intensifies.
The potential for shipping disruptions or further retaliatory cycles could drive volatility in crude oil and freight rates, reversing recent calm in the sector.