Skip to content
Back to Guavy Wire
Commodities

US-Saudi Strikes on Iran-Backed Groups Escalate Gulf Conflict

Instruments
Oil
Share

The US and Saudi Arabia have carried out coordinated airstrikes against Iran-backed armed groups in Iraq, marking Washington's first direct military action in the Middle East since President Donald Trump paused the bombing campaign against Iran last week.

The operation represents a significant expansion of regional military involvement, with Saudi Arabia openly joining US strikes for the first time during the current conflict. The strikes were launched in response to drone attacks on Saudi oil facilities allegedly carried out by Iran-backed militias operating from Iraqi territory.

At least 20 fighters were killed and 32 wounded in the strikes, according to Iraq's Popular Mobilisation Forces (PMF), a network of Iran-backed paramilitary groups integrated into Iraq's security forces. The operation marks a notable shift in Saudi Arabia's role in the regional conflict, with Riyadh publicly acknowledging joint operations alongside the US.

The Strait of Hormuz remains the central point of contention between Washington and Tehran, with Iran rejecting an Omani proposal for joint management of the waterway. Oil prices have risen again following the renewed fighting, with Brent crude climbing approximately 4.6% to around $88 per barrel.

More on Commodities

Disclaimer: Guavy is a data and market intelligence provider, not an investment advisor. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Real-time market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

© 2026 Guavy Inc