Commodities
US and Iran Engage in Fresh Escalation as Forces Clash in Persian Gulf Waters
US and Iranian forces clashed in waters around Iran on September 7, 2026, after a series of escalating attacks. US Central Command said it struck three Iranian oil carriers, including one off the coast of Kharg Island, near Iran's oil export hub.
The strikes came after Iran's Islamic Revolutionary Guard Corps launched ballistic missiles at two US Navy ships. Admiral Brad Cooper, head of US Central Command, warned that the US would impose an even higher economic cost if Iranian forces continued to attack American vessels.
Iran responded by threatening intensified strikes against US military vessels in the region and targeting three tankers on unauthorized routes in the Strait of Hormuz.