Iran's Ballistic Missile Attack on US Forces Sends Global Oil Prices Soaring

Iran's Islamic Revolutionary Guard Corps (IRGC) launched a surprise attack on U.S. forces stationed in the Middle East, sparking a significant escalation of geopolitical tensions in the region.

The attack saw Iran's IRGC launch multiple ballistic missiles from Iran, targeting U.S. military bases in the area. The U.S. Central Command (CENTCOM) confirmed that all missiles launched were intercepted, but did not specify the exact targets.

In response to the attack, the U.S. and Saudi forces conducted airstrikes on weapons storage facilities and logistics hubs belonging to Iran-backed militias in eastern Iraq.

The incident has sent shockwaves through the global oil market, with international oil prices surging nearly 4% as a result of the heightened tensions.