US Strikes Iranian Launchers, Sending Oil Prices Soaring
Oil prices surged on Monday after US forces struck Iranian launchers on Larak Island, reviving concerns over disruptions to energy flows through the Strait of Hormuz.
The strikes marked the first known American attacks on Iran since late July, with a US official saying Islamic Revolutionary Guard Corps forces were preparing to launch rockets carrying sea mines into the strategic waterway.
Iran retaliated by launching missiles at US forces stationed in Jordan, but nearly all incoming missiles were reportedly intercepted, causing no significant damage.
The escalation heightened concerns over supply security in the Middle East, where months of conflict have severely disrupted shipping through the Strait of Hormuz. The waterway carries roughly a fifth of global oil supplies.