Geopolitical tensions escalate as Iran targets US destroyers in the Strait of Hormuz, prompting retaliatory strikes on three Iranian ports.
Three US Navy destroyers transited the Strait of Hormuz when Iran launched missiles, drones, and small boats in an attack. The US responded by striking three Iranian ports: Bandar Abbas, Qeshm, and Bandar Lengeh.
The Strait of Hormuz is a critical chokepoint for global oil shipments, with roughly 20% of the world’s crude passing through daily. Prior incidents in the region have triggered volatility in oil and precious metals markets.
Markets may react to heightened geopolitical risks, particularly in energy and safe-haven assets like gold and silver.