US launches strikes on Iran in retaliation
The US has launched strikes on multiple sites in southern Iran in response to the downing of a US Army AH-64 Apache helicopter over the Strait of Hormuz.
The helicopter was downed by an Iranian attack drone, and the two crew members were rescued after spending approximately two hours in the water.
The episode has raised concerns about the risk of Hormuz closure, which could impact global crude and LNG flows.
The conflict may weigh heavily on shipping and oil supply risk premiums if it widens to include port infrastructure.