The United States launched "powerful" military strikes against Iran on Thursday, specifically targeting installations of the Islamic Revolutionary Guard Corps. This action was in retaliation for Iran's attempted missile attacks on US forces based in Jordan and follows a nearly week-long lull in fighting. US Central Command (CENTCOM) confirmed that dozens of Revolutionary Guard targets were hit, including military command centers, missile and drone facilities, and coastal surveillance sites. This renewed confrontation has significantly heightened the risk of a wider Middle East conflict, with Washington stating the strikes were aimed at reducing threats to US personnel, commercial shipping, and Gulf states.
The retaliatory strikes came after Iran reportedly attacked US bases in Jordan, with Jordan's army intercepting five Iranian missiles. Additionally, Iranian state media reported attacks on three commercial tankers near the Strait of Hormuz, a crucial waterway for global energy shipments, with Iran asserting "full control" over the strait and announcing plans to collect passage fees, which the US opposes. The US also announced new sanctions against entities linked to Iran's Revolutionary Guards, accusing them of extorting ships in the strait. In Iraq, a joint US-Saudi air operation targeted "terrorist militias loyal to Iran" following alleged drone attacks on Saudi oil facilities.
The escalation immediately impacted global markets. Oil prices surged, with Brent crude nearing $90 a barrel, after initially jumping 7.3%. US stocks ended sharply lower, and the yield on 30-year US Treasury bonds reached its highest level since 2007. The renewed hostilities have dashed hopes for revived negotiations that Washington had tried to initiate during the recent calm. Regional mediators described the situation as "very bad," with slim prospects for de-escalation as both sides continue their attacks, underscoring the challenge of winding down a five-month conflict that has affected the global economy. Concerns also grew over diminishing US stockpiles of sophisticated munitions.
