Iranian armed forces have launched attacks on United States military infrastructure in neighboring Gulf states, marking a significant escalation in the three-week-old conflict.
The strikes come as a direct response to recent US military operations targeting Iran's southern coastal and eastern provinces.
Simultaneously, Iran is conducting the state funeral for former Supreme Leader Ali Khamenei, a sensitive period during which Tehran has issued stark warnings to the US and Israel to refrain from further military action.
The widening scope of hostilities raises immediate concerns for global energy markets.
The Strait of Hormuz, a critical chokepoint for global oil and gas shipments, remains under threat as military activity intensifies in the surrounding region.
Traders are closely monitoring shipping lanes for signs of disruption, with any interference likely to trigger a sharp repricing in crude oil and tanker freight rates.