Iran Threatens US with Retaliation over Qeshm Civilians Killed

Iranian Parliament Speaker Mohammad Bagher Ghalibaf has threatened that the United States will pay the price for killing civilians in a recent attack on Qeshm Island. The US is accused of causing civilian casualties, with a couple and their child reportedly killed in a residential building.

Ghalibaf's statement comes after Iran's state media reported the incident, which has sparked anger and condemnation from Iranian officials. In response to the alleged US attack, the Islamic Revolutionary Guard Corps (IRGC) claimed responsibility for an attack on a military base in Kuwait, targeting two drone hangars and a fuel tank.

The market reaction to the escalating tensions between Iran and the US has been muted so far, with West Texas Intermediate oil prices down 1.20% at $82.60.