🇺🇸🇮🇷 The Iran fighting pushed oil higher for two weeks straight, but this week it finally hit a wall...
Brent climbed from the mid-$80s to nearly $97 as the U.S. and Iran kept trading blows around the Strait of Hormuz.
Then something pretty important happened: the ships kept moving.
A U.S. official said around 40 ships passed through the strait yesterday carrying millions of barrels of oil, even as missiles and drones were flying around.
And it was a pretty heavy night...
The U.S. hit around 100 targets across Iran, including two government tankers under Trump’s new “tanker for tanker” policy, with drones striking their engine rooms.
Iran fired back with around 25 ballistic missiles and drones aimed at U.S. bases, but most were intercepted or landed without casualties.
Once traders saw the oil was still flowing, some of the panic disappeared. Brent slipped from nearly $97 back below $95.
Nobody’s calling this calm though. European gas just hit a 3-year high and Europe is already worrying about another inflation hit.
Oil is still flowing, and for now, that seems to be keeping the panic in check.
🇮🇷 IRAN THREATENS “MULTIPLIED” RETALIATION AGAINST U.S. BASES
A senior Iranian military source tells Tasnim that Tehran will “definitely respond” to tonight’s U.S. strikes, warning the retaliation will be many times greater than the American attack.
The source says U.S. bases and interests across the region will “quickly come under Iranian fire”, promising a broad response to strikes on Iranian territory.
Iran has already demonstrated its willingness to target American facilities during the war, including U.S. military sites across the Gulf and Jordan.
The warning is explicit: Iran says tonight’s U.S. strikes will not go unanswered.
The US is striking "large and powerful" targets in Iran, warning that retaliation would bring an even harder response with "very little left of the Islamic Republic of Iran."
🇮🇷🇺🇸 CENTCOM has now officially confirmed the new attack wave, saying U.S. forces began striking IRGC targets inside Iran
According to CENTCOM, the strikes are retaliation for recent attempted IRGC attacks on commercial shipping in the Strait of Hormuz and U.S. service members in the region.
This follows the earlier U.S. strike on Larak Island and Iran’s retaliatory missile attacks on U.S. bases in Jordan.
Trump had subsequently promised to hit Iran “hard.”
Anti-ship missiles have reportedly been launched from Iran toward U.S. Navy warships in the Gulf of Oman, as the new U.S. strike wave triggers an immediate Iranian response.
No confirmation yet on interceptions, impacts or damage from this latest reported launch.
The escalation is now moving in both directions: U.S. strikes inside Iran, Iranian missiles toward U.S. ships.