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Trump Vows Retaliation After Iran Missile Strike Sparks Oil Price Spike

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US President Donald Trump has pledged retaliation after Iran launched a missile attack on American forces stationed in Jordan, sparking oil price spikes and causing crypto markets to closely watch developments.

The strike, which targeted US personnel overnight on July 29, was described by Trump as a 'surprise attack.'

This is not the first time Iran has targeted US positions in the region; a previous attack in December (no date mentioned) targeted US forces in Syria.

Trump's promise to hit Iran 'very hard' sent oil prices sharply higher, with markets reacting to any threat of disruption near the Strait of Hormuz, through which roughly one-fifth of the world's oil supply passes daily.

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