The U.S. military launched a sixth consecutive night of precision strikes on Iranian infrastructure, targeting coastal surveillance, air defense sites, and logistics networks. This sustained campaign follows Tehran’s attacks on commercial shipping, including the targeting of two UAE-managed supertankers near Oman. In a significant escalation, U.S. forces disabled an Iran-linked sanctioned tanker near Kharg Island on Thursday, signaling a widening scope for the naval blockade currently enforced in the Gulf of Oman.
Oil Prices Surge Toward Weekly High as Strait of Hormuz Traffic Stalls
Oil prices are tracking for a 12% weekly gain, the steepest climb since April, as intensified U.S. strikes on Iran and a de facto naval blockade of the Strait of Hormuz disrupt global supply chains. Brent crude reached $85.06 per barrel, while WTI rose to $79.88 amid escalating regional hostilities.
CENTCOM officials confirmed the operation aims to degrade Iranian military capabilities in response to threats against maritime traffic. The collapse of regional stability has effectively choked transit through the Strait of Hormuz, tightening global supply. Compounding these risks, Iran-aligned Houthi forces in Yemen are reportedly prepared to block the Bab el-Mandeb Strait upon instruction from the Islamic Revolutionary Guard Corps. This potential closure threatens to further constrain exports through the Red Sea, keeping upward pressure on crude futures as traders anticipate continued volatility.
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