US Strikes Iranian Rocket Launchers, Crude Oil Prices Surge

Crude oil prices surged on Monday as the US military launched an attack on Iranian rocket launchers in the Strait of Hormuz, marking a significant escalation in tensions between the two nations.

The operation targeted sites preparing to deploy mines into the strategic waterway, with US forces warning that they remain prepared to safeguard the free flow of commerce. The move marks a shift back towards military action after months of focusing on economic sanctions to pressure Iran into negotiations.

An Iranian official stated that resuming diplomacy with the US 'isn't impossible' following constructive talks facilitated by Qatar, but no concrete progress has been made in resolving the conflict.