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Iran declares Strait of Hormuz closed as US strikes Iranian targets
Tehran escalated attacks beyond the previously spared Gulf states, hitting Qatar and the UAE, while the US said it struck more than 300 Iranian military targets over three nights.
Iran expanded its attacks across parts of the Gulf, with state media and officials saying the Strait of Hormuz is closed to shipping and warning vessels against unauthorized transit. The conflict escalated further as strikes widened to Qatar and the United Arab Emirates, after targets that had largely avoided attack for months were hit again.
Qatar reported injuries from falling shrapnel and said Iran was fully responsible, while Kuwait reported damage and an injury at an oil drilling platform. Bahrain said it intercepted several aerial attacks, and Oman reported drone strikes in two regions.
The US said its forces struck more than 300 Iranian military targets over three nights, including 140 targets on Saturday alone, aimed at degrading Iran's ability to threaten commercial shipping in the strait. The US also maintained that traffic continued to flow through an expanded southern route near Oman.
Forexlive said traders are likely to treat the renewed escalation as a fresh supply risk, supporting expectations for higher crude prices and freight and war risk insurance costs. The outlet also noted that revocation of a license permitting Iranian crude sales adds a tightening impulse for available barrels, even as rising gasoline political sensitivity ahead of the US midterms could influence the level of further US engagement.
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