US targets Iranian sites near Strait of Hormuz
The US Central Command (CENTCOM) launched airstrikes on Iranian military targets near the Strait of Hormuz yesterday.
IMAGE: Getty Images
The attacks were in response to Iran’s downing of a US Army Apache helicopter in the region, CENTCOM said.
The US military agency struck Iranian air defense, ground control stations and surveillance radar sites near the Strait of Hormuz, it said.
“The operation was a proportional response to recent attacks on U.S. forces and international commercial ships transiting regional waters,” CENTCOM added.
Brent crude’s price remains well supported following what the US CENTCOM described as “self-defense” strikes.
Iran’s foreign minister Seyed Abbas Araghchi has responded to the strikes on social media platform X by saying that Iranian forces “will leave no attack or threat unanswered.”
Oil prices moved higher earlier this week following an exchange of fire between Iran and Israel, triggered by an Israeli strike on southern Beirut—a development Tehran had previously described as a red line.
However, tensions showed signs of relief yesterday as both nations, under intense pressure from Washington, sought a path toward de-escalation, according to market analysts.
“After yesterday's sell-off, oil prices have partially recovered in early morning trading amid re-escalation between the US and Iran,” two analysts from ING Bank noted.
Renewed US-Iran friction has unsettled the global oil market once again. Market participants are now focused on whether the hostilities will remain isolated acts or spiral into a new phase of regional escalation.
“Clearly, developments overnight show that the situation remains highly volatile,” ING Bank’s analysts said.
By Aparupa Mazumder
Please get in touch with comments or additional info to news@engine.online
