Washington targets over 80 Iranian sites and ends oil waivers, escalating geopolitical risks in the Middle East.
The US conducted airstrikes on more than 80 Iranian targets overnight, marking a sharp escalation in Gulf tensions. The strikes follow recent de-escalation efforts, which now appear precarious as Washington withdraws a waiver that previously allowed Iranian oil into global markets.
Prior to this, markets had priced in a fragile truce between the two nations, with oil prices stabilizing after earlier volatility. The removal of the waiver could tighten global oil supply, adding upward pressure on crude prices amid already elevated geopolitical risks.
Markets are likely to react to the dual impact of military action and supply constraints, with safe-haven assets and oil futures expected to see heightened volatility.