The United States has launched a series of military strikes against targets in southern Iran, marking a sharp escalation in regional hostilities.
US Central Command claimed responsibility for the explosions heard early Wednesday morning, which Iranian state media reported occurred on Qeshm Island, in Bandar Abbas, and in Sirik.
The operation is a direct retaliation for an Iranian attack on a commercial tanker in the Strait of Hormuz, signaling a significant deterioration in security for one of the world's most critical energy chokepoints.
The strikes intensify fears of prolonged disruption to global oil flows.
With the Strait of Hormuz handling roughly a fifth of the world's oil consumption, any sustained military activity in the corridor threatens to spike freight rates and insurance premiums for tankers transiting the region.
Markets are likely to price in a higher risk premium for Brent crude as traders assess the potential for further Iranian retaliation or broader conflict.
This development follows a volatile period of diplomatic and military friction.