The United States military has executed a significant wave of retaliatory strikes against Iran, targeting military objectives in response to Tehran's recent attacks on American bases in Jordan.
Iranian state media reported that the strikes hit the island of Qeshm, resulting in three fatalities, while Iran's Revolutionary Guards simultaneously targeted US facilities in Jordan, marking a dangerous escalation in the ongoing regional conflict.
Markets reacted swiftly to the intensifying hostilities.
Brent crude futures surged sharply in early trading as investors priced in the immediate risk of supply disruptions from the Strait of Hormuz and broader Persian Gulf shipping lanes.
The spike reflects growing concerns that the direct military exchange between the US and Iran could lead to sustained closures or attacks on critical energy infrastructure, tightening global supply at a time when geopolitical risk premiums are already elevated.
This development represents a significant escalation from previous tensions, moving beyond proxy conflicts to direct state-on-state military engagement.