Military action follows Iranian attacks on US forces, triggering a 1.34% decline in oil prices amid escalating regional tensions.
The US military conducted strikes on Iranian targets, including Qeshm Island and Abadan, in retaliation for missile attacks on American forces in the Middle East. The operation followed President Trump’s vow to respond forcefully to Iranian aggression.
Earlier reports suggested the Pentagon proposed a two-week campaign of strikes. The attacks mark a sharp escalation in tensions, with prior Iranian actions targeting US assets in the region.
Oil markets reacted swiftly, with West Texas Intermediate (WTI) crude falling 1.34% to $82.47 amid concerns over supply disruptions in the Middle East.